Zweig DiMenna Associates LLC Decreases Stock Holdings in Teck Resources Limited (NYSE:TECK)

Zweig DiMenna Associates LLC reduced its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 41.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,800 shares of the basic materials company's stock after selling 99,800 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Teck Resources were worth $7,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company's stock worth $30,000 after purchasing an additional 386 shares in the last quarter. Headlands Technologies LLC bought a new stake in Teck Resources in the 2nd quarter worth approximately $38,000. Eastern Bank purchased a new stake in Teck Resources in the third quarter worth approximately $39,000. Bruce G. Allen Investments LLC boosted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after buying an additional 383 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 898 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on TECK shares. Citigroup upgraded shares of Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday. Benchmark restated a "buy" rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Paradigm Capital raised Teck Resources to a "moderate buy" rating in a research note on Friday, July 26th. Finally, Eight Capital downgraded 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, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Teck Resources Trading Up 1.2 %

NYSE:TECK traded up $0.54 during trading hours on Friday, hitting $47.35. The company had a trading volume of 2,830,714 shares, compared to its average volume of 3,444,022. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a market capitalization of $24.19 billion, a PE ratio of 20.95 and a beta of 1.02. The stock has a 50-day moving average price of $48.76 and a 200 day moving average price of $48.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77.

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. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. Teck Resources's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. On average, equities research analysts predict that Teck Resources Limited will post 1.93 EPS for the current fiscal year.

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.