State of Tennessee Treasury Department lowered its holdings in shares of Teck Resources Ltd (NYSE:TECK) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,422 shares of the company’s stock after selling 6,264 shares during the period. State of Tennessee Treasury Department owned approximately 0.06% of Teck Resources worth $7,805,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Letko Brosseau & Associates Inc. purchased a new position in Teck Resources in the second quarter worth about $237,787,000. Impala Asset Management LLC purchased a new position in Teck Resources in the second quarter worth about $217,614,000. Capital Research Global Investors purchased a new position in Teck Resources in the second quarter worth about $187,626,000. Vanguard Group Inc. purchased a new position in Teck Resources in the second quarter worth about $182,655,000. Finally, TD Asset Management Inc. purchased a new position in Teck Resources in the second quarter worth about $146,189,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on TECK shares. MKM Partners reaffirmed a “buy” rating and issued a $40.00 target price on shares of Teck Resources in a report on Tuesday, September 12th. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Thursday, October 5th. Finally, Bank of America Corporation lifted their target price on shares of Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating and twenty-two have given a buy rating to the stock. Teck Resources has a consensus rating of “Buy” and a consensus target price of C$31.13.
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Shares of Teck Resources Ltd (TECK) opened at C$21.53 on Friday. Teck Resources Ltd has a twelve month low of C$14.56 and a twelve month high of C$33.76. The company has a market cap of $12,282.87, a P/E ratio of 5.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.26. The company has a current ratio of 2.17, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32.
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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