Assetmark Inc. purchased a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,263 shares of the basic materials company's stock, valued at approximately $954,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in Teck Resources in the 3rd quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in Teck Resources during the 2nd quarter valued at $38,000. Bruce G. Allen Investments LLC boosted its position in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after buying an additional 383 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock valued at $52,000 after buying an additional 409 shares during the period. Finally, Blue Trust Inc. lifted its stake in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after acquiring an additional 898 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.
Teck Resources Trading Down 0.9 %
NYSE TECK traded down $0.41 during trading on Friday, reaching $44.97. 1,404,765 shares of the stock traded hands, compared to its average volume of 3,403,650. The stock's 50-day moving average price is $48.70 and its 200 day moving average price is $48.70. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 68.77 and a beta of 1.04. Teck Resources Limited has a fifty-two week low of $34.56 and a fifty-two week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the prior year, the company earned $0.57 earnings per share. The business's quarterly revenue was down 20.6% compared to the same quarter last year. Analysts predict that Teck Resources Limited will post 1.84 EPS for the current year.
Wall Street Analyst Weigh In
TECK has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price for the company. in a research report on Friday, October 25th. Benchmark reissued a "buy" rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. Citigroup raised shares of Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. Finally, Paradigm Capital raised shares of Teck Resources to a "moderate buy" rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.29.
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About Teck Resources
(
Free Report)
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.
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