M&G PLC Decreases Stock Position in Teck Resources Ltd $TECK

M&G PLC trimmed its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 654,897 shares of the basic materials company’s stock after selling 67,751 shares during the quarter. M&G PLC owned 0.14% of Teck Resources worth $28,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TECK. ASR Vermogensbeheer N.V. boosted its stake in shares of Teck Resources by 1.6% during the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 270 shares during the period. Stephens Inc. AR boosted its position in shares of Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock valued at $290,000 after buying an additional 329 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares during the last quarter. CWM LLC raised its holdings in shares of Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after buying an additional 384 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Teck Resources by 2.1% during the 2nd quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.7%

NYSE TECK opened at $58.97 on Monday. Teck Resources Ltd has a one year low of $28.32 and a one year high of $60.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 0.55 and a beta of 0.79. The company’s 50-day simple moving average is $50.57 and its two-hundred day simple moving average is $43.26.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TECK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Natl Bk Canada lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.