DekaBank Deutsche Girozentrale Cuts Stock Holdings in Teck Resources Limited (NYSE:TECK)

DekaBank Deutsche Girozentrale cut its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 37.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 661,708 shares of the basic materials company's stock after selling 404,055 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.13% of Teck Resources worth $34,393,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC raised its holdings in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 386 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of Teck Resources during the 1st quarter worth approximately $114,000. Maryland State Retirement & Pension System boosted its position in shares of Teck Resources by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 48,111 shares of the basic materials company's stock worth $2,267,000 after acquiring an additional 864 shares in the last quarter. Van ECK Associates Corp raised its position in Teck Resources by 92.6% during the first quarter. Van ECK Associates Corp now owns 792,647 shares of the basic materials company's stock valued at $36,276,000 after purchasing an additional 381,148 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Teck Resources during the first quarter valued at approximately $361,000. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the topic of several recent analyst reports. CIBC lifted 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. JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday. StockNews.com upgraded Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. UBS Group upgraded Teck Resources from a "neutral" rating to a "buy" rating and upped their target price for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. Finally, Citigroup upgraded shares of Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.29.

Teck Resources Stock Up 0.1 %

NYSE:TECK traded up $0.06 during trading hours on Tuesday, reaching $47.81. The company had a trading volume of 2,127,140 shares, compared to its average volume of 3,431,229. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 72.43 and a beta of 1.02. The business's 50-day simple moving average is $48.70 and its two-hundred day simple moving average is $48.72.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.14% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.57 EPS. The firm's revenue for the quarter was down 20.6% compared to the same quarter last year. On average, equities analysts expect that Teck Resources Limited will post 1.93 earnings per share for the current 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.