Mount Yale Investment Advisors LLC Increases Stake in Teck Resources Limited (NYSE:TECK)

Mount Yale Investment Advisors LLC increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 64.4% in the third quarter, Holdings Channel.com reports. The firm owned 10,946 shares of the basic materials company’s stock after purchasing an additional 4,289 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Teck Resources were worth $572,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its position in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Eastern Bank bought a new stake in shares of Teck Resources during the 3rd quarter worth approximately $39,000. Headlands Technologies LLC purchased a new position in Teck Resources during the 2nd quarter valued at $38,000. Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% in the 3rd 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. Finally, Massmutual Trust Co. FSB ADV increased its stake in Teck Resources by 69.7% in 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. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Up 1.2 %

TECK opened at $47.35 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market cap of $24.19 billion, a price-to-earnings ratio of 20.95 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. The stock has a fifty day moving average price of $48.73 and a 200-day moving average price of $48.73.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TECK. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday. BMO Capital Markets began coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. Scotiabank raised their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.