Toronto Dominion Bank reduced its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 16.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,024,380 shares of the basic materials company’s stock after selling 386,158 shares during the quarter. Toronto Dominion Bank owned 0.36% of Teck Resources worth $48,777,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nomura Holdings Inc. boosted its stake in shares of Teck Resources by 28.1% in the second quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 3,091 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Teck Resources by 2,675.5% in the second quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 4,040 shares during the period. SG Americas Securities LLC boosted its stake in shares of Teck Resources by 2.4% in the second quarter. SG Americas Securities LLC now owns 183,597 shares of the basic materials company’s stock valued at $4,673,000 after purchasing an additional 4,306 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Teck Resources by 46.2% in the second quarter. Janney Montgomery Scott LLC now owns 14,236 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 4,499 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Teck Resources in the second quarter valued at $111,000. Institutional investors own 54.09% of the company’s stock.
NYSE TECK opened at $21.33 on Wednesday. Teck Resources Ltd has a 12 month low of $18.17 and a 12 month high of $30.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.39 and a current ratio of 2.30. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 6.22, a P/E/G ratio of 0.58 and a beta of 1.55.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). Teck Resources had a net margin of 27.35% and a return on equity of 12.31%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.40 billion. On average, research analysts expect that Teck Resources Ltd will post 3.41 EPS for the current fiscal year.
Several research analysts have recently weighed in on TECK shares. Deutsche Bank set a $34.00 target price on shares of Teck Resources and gave the company a “buy” rating in a research note on Saturday, September 22nd. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Morgan Stanley reduced their price objective on shares of Teck Resources from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 1st. Raymond James reiterated a “buy” rating on shares of Teck Resources in a research note on Sunday, October 7th. Finally, ValuEngine downgraded shares of Teck Resources from a “sell” rating to a “strong sell” rating in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Teck Resources currently has a consensus rating of “Buy” and an average price target of $31.43.
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Teck Resources Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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