M&G Plc Sells 11,222 Shares of Teck Resources Limited (NYSE:TECK)

M&G PLC lessened its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,000 shares of the basic materials company's stock after selling 11,222 shares during the period. M&G PLC owned 0.10% of Teck Resources worth $27,092,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Intact Investment Management Inc. raised its holdings in Teck Resources by 111.3% during the 3rd quarter. Intact Investment Management Inc. now owns 227,392 shares of the basic materials company's stock valued at $11,878,000 after acquiring an additional 119,767 shares during the period. Stephens Inc. AR purchased a new stake in Teck Resources during the 3rd quarter worth about $480,000. US Bancorp DE boosted its stake in Teck Resources by 27.9% in the 3rd quarter. US Bancorp DE now owns 21,548 shares of the basic materials company's stock worth $1,126,000 after purchasing an additional 4,704 shares during the period. Avitas Wealth Management LLC grew its holdings in Teck Resources by 33.2% during the 3rd quarter. Avitas Wealth Management LLC now owns 33,672 shares of the basic materials company's stock valued at $1,759,000 after buying an additional 8,399 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Teck Resources by 1,291.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $167,000 after buying an additional 2,970 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Trading Down 4.6 %

Shares of Teck Resources stock traded down $2.34 during trading on Friday, reaching $48.72. The company's stock had a trading volume of 3,519,732 shares, compared to its average volume of 3,401,649. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 73.82 and a beta of 1.04. The firm's 50-day moving average is $48.66 and its two-hundred day moving average is $48.75. Teck Resources Limited has a 52-week low of $34.38 and a 52-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 data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company's quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, sell-side analysts anticipate that Teck Resources Limited will post 1.91 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on TECK shares. Scotiabank boosted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Tuesday, October 8th. Citigroup raised Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research note on Friday, October 25th. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. Finally, Eight Capital lowered shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.29.

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.