RBA Wealth Management LLC Lowers Stock Holdings in Teck Resources Limited (NYSE:TECK)

RBA Wealth Management LLC trimmed its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 88.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,346 shares of the basic materials company's stock after selling 69,663 shares during the quarter. RBA Wealth Management LLC's holdings in Teck Resources were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TECK. Susquehanna Fundamental Investments LLC acquired a new stake in Teck Resources in the first quarter worth $485,000. Vanguard Group Inc. increased its position in Teck Resources by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company's stock valued at $765,493,000 after buying an additional 290,034 shares in the last quarter. Country Club Bank acquired a new position in Teck Resources during the 2nd quarter worth approximately $1,747,000. Quattro Financial Advisors LLC acquired a new position in Teck Resources during the 1st quarter worth approximately $927,000. Finally, Atria Investments Inc bought a new position in Teck Resources in the first quarter worth approximately $1,141,000. Institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark reissued a "buy" rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. TD Securities raised Teck Resources to a "strong-buy" rating in a research note on Tuesday, July 16th. CIBC lifted their target price on Teck Resources from $70.00 to $80.00 and gave the company an "outperformer" rating in a research report on Friday, July 12th. Eight Capital downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 11th. Finally, Paradigm Capital upgraded Teck Resources to a "moderate buy" rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.43.

Teck Resources Stock Performance

TECK traded up $0.61 during midday trading on Tuesday, reaching $50.32. The company had a trading volume of 2,199,562 shares, compared to its average volume of 3,423,556. The business has a 50-day moving average price of $48.67 and a two-hundred day moving average price of $48.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13. The stock has a market cap of $25.71 billion, a PE ratio of 21.99 and a beta of 1.02.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Teck Resources Limited will post 1.94 earnings per share for the current fiscal year.

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.