Teck Resources Ltd $TECK Stock Sold by RWC Asset Management LLP

RWC Asset Management LLP lowered its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 52.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,727 shares of the basic materials company’s stock after selling 97,870 shares during the quarter. RWC Asset Management LLP’s holdings in Teck Resources were worth $5,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECK. Squarepoint Ops LLC acquired a new position in shares of Teck Resources during the second quarter worth $7,952,000. Public Employees Retirement System of Ohio purchased a new stake in Teck Resources during the 2nd quarter worth about $21,425,000. Nykredit A S purchased a new position in shares of Teck Resources in the 2nd quarter valued at about $4,338,000. NewEdge Advisors LLC raised its position in shares of Teck Resources by 92.0% during the 1st quarter. NewEdge Advisors LLC now owns 37,143 shares of the basic materials company’s stock worth $1,922,000 after acquiring an additional 17,793 shares in the last quarter. Finally, HBK Investments L P lifted its stake in Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock worth $343,270,000 after purchasing an additional 4,188,029 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE:TECK traded up $0.13 on Friday, reaching $59.03. The company’s stock had a trading volume of 2,468,624 shares, compared to its average volume of 2,619,572. The stock’s 50-day moving average is $66.57 and its two-hundred day moving average is $63.03. Teck Resources Ltd has a 52-week low of $38.00 and a 52-week high of $72.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. The stock has a market capitalization of $28.52 billion, a P/E ratio of 16.00, a PEG ratio of 1.87 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The business’s revenue was up 78.2% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, sell-side analysts forecast that Teck Resources Ltd will post 4.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Stifel Nicolaus upped their price objective on shares of Teck Resources from $82.00 to $95.00 and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings cut Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.80.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.