31,778 Shares in Teck Resources Limited (NYSE:TECK) Bought by Jackson Square Capital LLC

Jackson Square Capital LLC purchased a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,778 shares of the basic materials company’s stock, valued at approximately $1,660,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Eastern Bank purchased a new position in shares of Teck Resources in the third quarter worth $39,000. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the second quarter valued at about $38,000. Bruce G. Allen Investments LLC raised its stake in shares of 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 valued at $46,000 after acquiring an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of 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 purchasing an additional 409 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Scotiabank raised their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. CIBC raised their target price 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, BMO Capital Markets began coverage on shares of Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Price Performance

TECK stock opened at $49.09 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a 50 day moving average price of $48.57 and a 200-day moving average price of $48.71. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The firm has a market capitalization of $24.85 billion, a price-to-earnings ratio of 74.38 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. Equities research analysts forecast that Teck Resources Limited will post 1.91 EPS for the current fiscal year.

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.