Levin Capital Strategies L.P. Has $17.98 Million Stock Holdings in Teck Resources Ltd $TECK

Levin Capital Strategies L.P. increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,508 shares of the basic materials company’s stock after acquiring an additional 77,375 shares during the quarter. Teck Resources comprises approximately 1.4% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 19th biggest holding. Levin Capital Strategies L.P.’s holdings in Teck Resources were worth $17,984,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Teck Resources by 17.1% in the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after purchasing an additional 3,211,985 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Teck Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock worth $966,370,000 after purchasing an additional 278,481 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of Teck Resources by 9.0% in the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after buying an additional 995,947 shares during the period. Hancock Prospecting Pty Ltd grew its holdings in shares of Teck Resources by 31.7% in the 4th quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company’s stock valued at $493,185,000 after buying an additional 2,477,344 shares during the period. Finally, Norges Bank bought a new stake in shares of Teck Resources in the 4th quarter valued at $404,880,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Wall Street Zen raised Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, JPMorgan Chase & Co. cut their price objective on Teck Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

Teck Resources Stock Up 0.8%

Shares of TECK stock opened at $57.31 on Thursday. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $61.59 and a 200-day moving average of $57.38. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.68 and a beta of 0.92.

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.