Teck Resources Limited (NYSE:TECK) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 57.5% during the third quarter, Holdings Channel reports. The firm owned 81,103 shares of the basic materials company’s stock after acquiring an additional 29,600 shares during the quarter. Vontobel Holding Ltd.’s holdings in Teck Resources were worth $4,236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its position in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the period. Headlands Technologies LLC purchased a new position in shares of Teck Resources during the second quarter worth approximately $38,000. Bruce G. Allen Investments LLC increased its holdings in shares of Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TECK has been the subject of a number of research reports. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets initiated coverage on shares of Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average target price of $67.43.

Teck Resources Price Performance

Teck Resources stock opened at $50.43 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The company has a market cap of $25.76 billion, a P/E ratio of 22.31 and a beta of 1.02. The business has a fifty day moving average of $48.61 and a two-hundred day moving average of $48.67.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, analysts predict that Teck Resources Limited will post 2 earnings per share for the current fiscal year.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.