NN Investment Partners Holdings N.V. lessened its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 51.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 83,183 shares of the basic materials company’s stock after selling 88,338 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Teck Resources were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Contrarius Investment Management Ltd lifted its stake in shares of Teck Resources by 90.9% in the 1st quarter. Contrarius Investment Management Ltd now owns 9,624,545 shares of the basic materials company’s stock worth $72,762,000 after acquiring an additional 4,582,650 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Teck Resources by 41.1% in the 1st quarter. Janus Henderson Group PLC now owns 7,021,416 shares of the basic materials company’s stock worth $52,628,000 after acquiring an additional 2,045,834 shares during the period. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter worth $105,890,000. Morgan Stanley lifted its stake in shares of Teck Resources by 25.4% in the 1st quarter. Morgan Stanley now owns 3,740,861 shares of the basic materials company’s stock worth $28,281,000 after acquiring an additional 757,390 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Teck Resources by 62.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,707,427 shares of the basic materials company’s stock valued at $27,793,000 after purchasing an additional 1,421,116 shares in the last quarter. Institutional investors own 45.10% of the company’s stock.

A number of equities analysts have recently issued reports on TECK shares. ValuEngine upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 21st. Morgan Stanley cut their price target on shares of Teck Resources from $11.70 to $11.10 and set an “overweight” rating for the company in a report on Monday, July 27th. Benchmark increased their price target on shares of Teck Resources from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Scotiabank increased their price target on shares of Teck Resources from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.44.

NYSE:TECK opened at $10.13 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $10.40. Teck Resources Ltd has a twelve month low of $5.60 and a twelve month high of $21.06. The company has a market capitalization of $5.30 billion, a P/E ratio of -7.45, a price-to-earnings-growth ratio of 3.22 and a beta of 1.50.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.20. Teck Resources had a negative net margin of 10.04% and a positive return on equity of 3.57%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was down 45.2% on a year-over-year basis. On average, equities research analysts predict that Teck Resources Ltd will post 0.67 earnings per share for the current year.

About Teck Resources

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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