Jackson Square Capital LLC Invests $1.66 Million in Teck Resources Limited (NYSE:TECK)

Jackson Square Capital LLC bought a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,778 shares of the basic materials company's stock, valued at approximately $1,660,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TECK. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the second quarter worth about $38,000. Eastern Bank bought a new stake in Teck Resources in the third quarter valued at approximately $39,000. Bruce G. Allen Investments LLC boosted its stake in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 383 shares during the period. Blue Trust Inc. grew its holdings in shares of Teck Resources by 583.1% in the second 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 last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after buying an additional 409 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 4.0 %

TECK traded up $1.97 during midday trading on Thursday, reaching $51.06. The company's stock had a trading volume of 2,604,111 shares, compared to its average volume of 3,401,101. The stock's 50-day moving average is $48.65 and its 200-day moving average is $48.73. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 77.36 and a beta of 1.04. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The firm's quarterly revenue was down 20.6% compared to the same quarter last year. As a group, research analysts expect that Teck Resources Limited will post 1.91 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TECK shares. UBS Group raised shares of Teck Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $76.00 to $78.00 in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Citigroup raised Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Paradigm Capital raised shares of Teck Resources to a "moderate buy" rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.29.

Teck Resources Company 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.