Teck Resources Ltd $TECK Stock Sold by RWC Asset Management LLP

RWC Asset Management LLP reduced its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 52.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,727 shares of the basic materials company’s stock after selling 97,870 shares during the quarter. RWC Asset Management LLP’s holdings in Teck Resources were worth $5,837,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. grew its stake in Teck Resources by 101.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 900 shares of the basic materials company’s stock worth $59,000 after buying an additional 454 shares during the last quarter. Kapitalo Investimentos Ltda increased its position in Teck Resources by 23.7% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 436,487 shares of the basic materials company’s stock valued at $28,716,000 after buying an additional 83,628 shares in the last quarter. Genesee Capital Advisors LLC purchased a new stake in Teck Resources in the third quarter valued at about $259,000. Vontobel Holding Ltd. raised its stake in Teck Resources by 8.3% in the third quarter. Vontobel Holding Ltd. now owns 111,052 shares of the basic materials company’s stock valued at $7,312,000 after buying an additional 8,503 shares during the last quarter. Finally, Triasima Portfolio Management inc. raised its stake in Teck Resources by 43.4% in the third quarter. Triasima Portfolio Management inc. now owns 39,350 shares of the basic materials company’s stock valued at $2,597,000 after buying an additional 11,900 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TECK. Deutsche Bank Aktiengesellschaft raised their target price on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen cut Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. JPMorgan Chase & Co. lifted their target price on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Weiss Ratings lowered Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Hold” and an average price target of $68.80.

Teck Resources Trading Up 0.2%

TECK stock traded up $0.13 during trading on Friday, reaching $59.03. 2,468,624 shares of the stock were exchanged, compared to its average volume of 2,619,572. Teck Resources Ltd has a 1 year low of $38.00 and a 1 year high of $72.56. The firm has a market capitalization of $28.52 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.87 and a beta of 1.01. The business has a 50 day moving average price of $66.57 and a 200-day moving average price of $63.03. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The company’s quarterly revenue was up 78.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. On average, research analysts predict that Teck Resources Ltd will post 4.32 earnings per share for the current year.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.