4,614 Shares in Teck Resources Limited (NYSE:TECK) Acquired by OLD National Bancorp IN

OLD National Bancorp IN purchased a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 4,614 shares of the basic materials company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Daymark Wealth Partners LLC lifted its holdings in Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after buying an additional 242 shares during the period. Cigna Investments Inc. New lifted its holdings in Teck Resources by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after buying an additional 317 shares during the period. Candriam S.C.A. lifted its holdings in Teck Resources by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock worth $426,000 after buying an additional 343 shares during the period. Evergreen Capital Management LLC lifted its holdings in Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after buying an additional 365 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its holdings 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 worth $46,000 after buying an additional 383 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TECK has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.43.

Teck Resources Stock Down 1.5 %

Shares of NYSE:TECK opened at $49.56 on Thursday. The stock has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $48.74. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 21.93 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 company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The business 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%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, research analysts anticipate that Teck Resources Limited will post 1.94 earnings per share for the current fiscal year.

About Teck Resources

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.