Raymond James & Associates Buys 104,573 Shares of Teck Resources Limited (NYSE:TECK)

Raymond James & Associates grew its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 34.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,868 shares of the basic materials company's stock after acquiring an additional 104,573 shares during the quarter. Raymond James & Associates owned 0.08% of Teck Resources worth $21,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TECK. AMF Tjanstepension AB boosted its holdings in Teck Resources by 846.6% during the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company's stock worth $210,034,000 after purchasing an additional 3,919,984 shares during the last quarter. Asia Research & Capital Management Ltd bought a new stake in shares of Teck Resources during the 1st quarter worth $158,976,000. Castle Hook Partners LP bought a new stake in Teck Resources in the first quarter worth about $90,980,000. TD Asset Management Inc raised its holdings in shares of Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company's stock worth $237,202,000 after purchasing an additional 1,629,149 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Teck Resources by 48.4% in the second quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company's stock valued at $188,111,000 after buying an additional 1,283,876 shares during the period. Institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TECK. Paradigm Capital raised shares of Teck Resources to a "moderate buy" rating in a research report on Friday, July 26th. Scotiabank increased their target price on Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, October 8th. Eight Capital cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 11th. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Citigroup raised Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Teck Resources Price Performance

TECK traded up $0.54 on Friday, reaching $47.35. The company had a trading volume of 2,922,695 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 cap of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. 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 business has a 50 day simple moving average of $48.73 and a 200 day simple moving average of $48.73.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. As a group, sell-side analysts anticipate that Teck Resources Limited will post 1.93 EPS for the current 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.