Creative Planning Raises Stock Position in Teck Resources Limited (NYSE:TECK)

Creative Planning boosted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,224 shares of the basic materials company’s stock after acquiring an additional 5,403 shares during the period. Creative Planning’s holdings in Teck Resources were worth $2,258,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Daymark Wealth Partners LLC grew its stake in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after acquiring an additional 242 shares in the last quarter. Cigna Investments Inc. New grew its stake 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 in the last quarter. Candriam S.C.A. grew its stake 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 in the last quarter. Evergreen Capital Management LLC grew its stake 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 in the last quarter. Finally, Bruce G. Allen Investments LLC grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 1.2 %

NYSE:TECK opened at $47.35 on Monday. The company has a fifty day moving average of $48.73 and a 200 day moving average of $48.72. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $24.19 billion, a P/E ratio of 20.95 and a beta of 1.02.

Analysts Set New Price Targets

A number of research firms have commented on TECK. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday. Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Company 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.