4,438 Shares in Teck Resources Limited (NYSE:TECK) Purchased by AQR Capital Management LLC

AQR Capital Management LLC acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,438 shares of the basic materials company’s stock, valued at approximately $213,000.

A number of other large investors also recently made changes to their positions in TECK. Vanguard Group Inc. grew its position in Teck Resources by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company’s stock valued at $694,542,000 after acquiring an additional 457,592 shares during the period. PNC Financial Services Group Inc. lifted its stake in Teck Resources by 8.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 865 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Teck Resources in the 4th quarter valued at about $223,000. First Hawaiian Bank grew its position in shares of Teck Resources by 6.0% during the 1st quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock valued at $254,000 after buying an additional 313 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its position in shares of Teck Resources by 16.9% during the 1st quarter. Douglas Lane & Associates LLC now owns 775,286 shares of the basic materials company’s stock worth $35,493,000 after purchasing an additional 111,920 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TECK. BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They set an “outperform” rating on the stock. CIBC lifted their target price on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.43.

Teck Resources Trading Up 0.4 %

NYSE:TECK opened at $50.52 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $48.40 and its 200-day moving average is $48.62. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 24.76 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.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. Equities analysts anticipate that Teck Resources Limited will post 2 EPS for the current 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.