Canada Pension Plan Investment Board lessened its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 33.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 293,401 shares of the basic materials company’s stock after selling 150,700 shares during the period. Canada Pension Plan Investment Board owned approximately 0.05% of Teck Resources worth $6,163,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new stake in Teck Resources during the 2nd quarter valued at $27,111,000. American Century Companies Inc. purchased a new stake in Teck Resources during the 2nd quarter valued at $6,823,000. The Manufacturers Life Insurance Company bought a new position in Teck Resources in the 2nd quarter valued at $73,078,000. NN Investment Partners Holdings N.V. bought a new position in Teck Resources in the 2nd quarter valued at $623,000. Finally, Shell Asset Management Co. grew its position in Teck Resources by 175.3% in the 3rd quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock valued at $3,239,000 after acquiring an additional 97,242 shares during the last quarter. Institutional investors own 45.80% of the company’s stock.
Several equities analysts have commented on the company. B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. BidaskClub downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 15th. ValuEngine downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 6th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. Finally, Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.13.
Shares of Teck Resources Ltd (TECK) opened at $21.84 on Tuesday. Teck Resources Ltd has a 12-month low of $14.56 and a 12-month high of $33.76. The firm has a market capitalization of $12,282.86, a PE ratio of 5.85, a P/E/G ratio of 0.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.
Teck Resources Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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