Van ECK Associates Corp Sells 74,613 Shares of Teck Resources Limited (NYSE:TECK)

Van ECK Associates Corp lessened its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,166,418 shares of the basic materials company's stock after selling 74,613 shares during the period. Van ECK Associates Corp owned approximately 0.23% of Teck Resources worth $47,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Principal Financial Group Inc. lifted its position in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock valued at $341,337,000 after acquiring an additional 165,759 shares in the last quarter. AMF Tjanstepension AB lifted its position in shares of Teck Resources by 3.9% in the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company's stock valued at $238,055,000 after acquiring an additional 169,476 shares in the last quarter. FMR LLC lifted its position in shares of Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd increased its holdings in shares of Teck Resources by 1.4% in the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after purchasing an additional 38,949 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TECK shares. JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teck Resources has a consensus rating of "Moderate Buy" and an average target price of $65.38.

Teck Resources Price Performance

Shares of Teck Resources stock traded down $0.74 on Monday, hitting $43.12. The company's stock had a trading volume of 2,432,855 shares, compared to its average volume of 2,856,734. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 1 year low of $37.30 and a 1 year high of $55.13. The firm has a fifty day moving average price of $42.16 and a 200-day moving average price of $45.79. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 65.34 and a beta of 1.02.

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.