Dimensional Fund Advisors LP Increases Stake in Teck Resources Ltd $TECK

Dimensional Fund Advisors LP grew its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,185,349 shares of the basic materials company’s stock after buying an additional 28,531 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Teck Resources were worth $268,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Welch Group LLC raised its holdings in Teck Resources by 3.5% in the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 199 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares in the last quarter. Compound Planning Inc. grew its holdings in Teck Resources by 1.0% during the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after acquiring an additional 333 shares in the last quarter. 44 Wealth Management LLC increased its position in shares of Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after purchasing an additional 411 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after purchasing an additional 452 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK opened at $57.31 on Thursday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The stock has a market cap of $27.68 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The firm has a fifty day moving average price of $61.59 and a 200 day moving average price of $57.38.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TECK. Wall Street Zen raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Finally, Zacks Research downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.