Douglas Lane & Associates LLC grew its stake in shares of Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 859,242 shares of the basic materials company’s stock after buying an additional 39,199 shares during the period. Douglas Lane & Associates LLC’s holdings in Teck Resources were worth $44,887,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Teck Resources by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after buying an additional 290,034 shares during the period. Janus Henderson Group PLC grew its stake in shares of Teck Resources by 2.4% during the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock valued at $394,178,000 after buying an additional 203,607 shares during the period. CIBC Asset Management Inc grew its stake in shares of Teck Resources by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock valued at $303,161,000 after buying an additional 90,089 shares during the period. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 7.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock valued at $292,441,000 after buying an additional 416,070 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Teck Resources by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock valued at $280,655,000 after buying an additional 546,801 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.
Teck Resources Stock Up 1.6 %
Shares of TECK stock traded up $0.80 during trading hours on Friday, hitting $51.20. 5,335,658 shares of the company were exchanged, compared to its average volume of 3,104,984. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13. The business’s 50-day simple moving average is $48.04 and its two-hundred day simple moving average is $48.52. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 25.10 and a beta of 1.02.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank upped their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. CIBC upped their price target on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Finally, Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.
Check Out Our Latest Analysis on TECK
Teck Resources Company 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.
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