Tibra Equities Europe Ltd Acquires New Position in Teck Resources Ltd (NYSE:TECK)

Tibra Equities Europe Ltd acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,700 shares of the basic materials company’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. We Are One Seven LLC grew its holdings in shares of Teck Resources by 4.2% during the second quarter. We Are One Seven LLC now owns 11,437 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 456 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Teck Resources by 6.3% during the second quarter. D.A. Davidson & CO. now owns 10,701 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 635 shares during the last quarter. Winslow Evans & Crocker Inc. grew its holdings in shares of Teck Resources by 12.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 6,672 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 756 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Teck Resources by 18.0% during the second quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after buying an additional 792 shares during the period. Finally, Confluence Investment Management LLC boosted its position in shares of Teck Resources by 2.2% during the second quarter. Confluence Investment Management LLC now owns 38,485 shares of the basic materials company’s stock worth $887,000 after buying an additional 815 shares during the period. 53.66% of the stock is owned by hedge funds and other institutional investors.

TECK has been the subject of several analyst reports. ValuEngine downgraded Teck Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Royal Bank of Canada downgraded Teck Resources to a “buy” rating and set a $35.00 price objective for the company. in a research report on Friday, October 25th. Clarkson Capital reiterated a “neutral” rating on shares of Teck Resources in a research report on Monday, September 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $21.50 price objective on shares of Teck Resources in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Shares of NYSE TECK traded down $0.28 during midday trading on Friday, hitting $16.99. 2,317,187 shares of the company’s stock were exchanged, compared to its average volume of 2,777,529. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.08 and a quick ratio of 1.28. The stock’s 50 day moving average price is $16.36 and its 200-day moving average price is $19.39. The firm has a market cap of $9.24 billion, a P/E ratio of 5.41 and a beta of 1.45. Teck Resources Ltd has a twelve month low of $14.51 and a twelve month high of $25.75.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.11. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. Teck Resources had a return on equity of 8.07% and a net margin of 13.28%. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, analysts expect that Teck Resources Ltd will post 2.31 EPS for the current fiscal year.

Teck Resources Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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