Vontobel Holding Ltd. Raises Holdings in Teck Resources Limited (NYSE:TECK)

Vontobel Holding Ltd. grew its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 57.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,103 shares of the basic materials company's stock after acquiring an additional 29,600 shares during the quarter. Vontobel Holding Ltd.'s holdings in Teck Resources were worth $4,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Creative Planning increased its position in shares of Teck Resources by 14.3% in the third quarter. Creative Planning now owns 43,224 shares of the basic materials company's stock valued at $2,258,000 after acquiring an additional 5,403 shares during the last quarter. Affinity Wealth Management LLC raised its stake in shares of Teck Resources by 0.5% during the 3rd quarter. Affinity Wealth Management LLC now owns 104,781 shares of the basic materials company's stock worth $5,474,000 after purchasing an additional 518 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Teck Resources by 4.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 859,242 shares of the basic materials company's stock valued at $44,887,000 after buying an additional 39,199 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Teck Resources in the third quarter valued at $304,000. Finally, LVW Advisors LLC acquired a new position in Teck Resources during the third quarter worth $215,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.1 %

Shares of NYSE TECK traded down $0.06 during midday trading on Friday, hitting $50.44. 1,930,951 shares of the stock traded hands, compared to its average volume of 3,433,018. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The business has a 50 day moving average price of $48.61 and a two-hundred day moving average price of $48.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The company has a market cap of $25.77 billion, a PE ratio of 22.31 and a beta of 1.02.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm earned $0.91 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Teck Resources Limited will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Teck Resources from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, June 21st. CIBC increased their price target on Teck Resources from $70.00 to $80.00 and gave the company an "outperformer" rating in a research note on Friday, July 12th. StockNews.com raised shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Wednesday. Eight Capital lowered shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets started coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an "outperform" rating for the company. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $67.43.

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.