Teck Resources Limited (NYSE:TECK) Stake Raised by Regal Partners Ltd

Regal Partners Ltd increased its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,728,980 shares of the basic materials company's stock after purchasing an additional 38,949 shares during the period. Teck Resources accounts for about 12.6% of Regal Partners Ltd's holdings, making the stock its biggest holding. Regal Partners Ltd owned approximately 0.54% of Teck Resources worth $142,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Teck Resources during the second quarter worth about $38,000. Eastern Bank purchased a new position in Teck Resources during the third quarter worth about $39,000. Bruce G. Allen Investments LLC boosted its stake in Teck Resources by 77.4% during 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 during the period. Blue Trust Inc. boosted its stake 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 worth $48,000 after buying an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after buying an additional 409 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TECK shares. Paradigm Capital raised shares of Teck Resources to a "moderate buy" rating in a research note on Friday, July 26th. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and an average price target of $65.29.

Teck Resources Stock Performance

Shares of Teck Resources stock traded up $0.50 during trading on Thursday, reaching $45.39. The company's stock had a trading volume of 4,128,964 shares, compared to its average volume of 3,412,026. The company has a 50-day moving average price of $48.70 and a two-hundred day moving average price of $48.70. The firm has a market cap of $22.88 billion, a PE ratio of 68.77 and a beta of 1.04. Teck Resources Limited has a fifty-two week low of $34.56 and a fifty-two week high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results 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 business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company's quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. On average, analysts forecast that Teck Resources Limited will post 1.84 EPS 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.