International Assets Investment Management LLC Purchases Shares of 207,079 Teck Resources Limited (NYSE:TECK)

International Assets Investment Management LLC acquired a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 207,079 shares of the basic materials company's stock, valued at approximately $10,818,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Teck Resources in the 3rd quarter valued at $39,000. U S Global Investors Inc. acquired a new position in Teck Resources in the third quarter valued at about $444,000. OLD National Bancorp IN purchased a new position in Teck Resources during the third quarter worth about $241,000. Raymond James & Associates increased its position in shares of Teck Resources by 34.5% during the third quarter. Raymond James & Associates now owns 407,868 shares of the basic materials company's stock valued at $21,307,000 after acquiring an additional 104,573 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Teck Resources by 178.2% in the 3rd quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company's stock valued at $140,000 after acquiring an additional 1,875 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Analysts Set New Price Targets

TECK has been the subject of several research reports. CIBC lifted their target price on shares of Teck Resources from $70.00 to $80.00 and gave the company an "outperformer" rating in a report on Friday, July 12th. Benchmark reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th. UBS Group raised Teck Resources from a "neutral" rating to a "buy" rating and increased their target price for the stock from $76.00 to $78.00 in a research note on Wednesday, September 4th. Citigroup upgraded Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. Finally, Eight Capital lowered shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus target price of $65.29.

Teck Resources Stock Down 1.5 %

Shares of TECK stock traded down $0.70 during trading hours on Thursday, reaching $46.49. 2,283,462 shares of the stock were exchanged, compared to its average volume of 3,419,979. The business's fifty day moving average is $48.65 and its two-hundred day moving average is $48.70. The firm has a market capitalization of $23.53 billion, a P/E ratio of 70.30 and a beta of 1.02. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13. 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 announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.14%. The company's quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. As a group, research analysts expect 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.