Ingalls & Snyder LLC Lowers Stock Holdings in Teck Resources Limited (NYSE:TECK)

Ingalls & Snyder LLC lowered its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 20.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,795 shares of the basic materials company's stock after selling 112,040 shares during the period. Ingalls & Snyder LLC owned approximately 0.09% of Teck Resources worth $17,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. CIBC Asset Management Inc lifted its holdings in Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock valued at $341,337,000 after buying an additional 165,759 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in Teck Resources by 3.9% during the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company's stock valued at $238,055,000 after buying an additional 169,476 shares in the last quarter. FMR LLC raised its holdings in shares of Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd grew its position in shares of Teck Resources by 1.4% in the 3rd quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after buying an additional 38,949 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 1.7 %

NYSE TECK traded down $0.74 during trading hours on Friday, hitting $43.12. 2,432,855 shares of the company traded hands, compared to its average volume of 2,856,734. Teck Resources Limited has a twelve month low of $37.30 and a twelve month high of $55.13. The stock has a market capitalization of $21.51 billion, a price-to-earnings ratio of 65.34 and a beta of 1.02. The business's 50-day moving average is $42.23 and its 200-day moving average is $45.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Analyst Upgrades and Downgrades

TECK has been the subject of several analyst reports. National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.38.

Teck Resources Profile

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.