Legal & General Group Plc boosted its position in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,522,466 shares of the basic materials company’s stock after acquiring an additional 25,918 shares during the quarter. Legal & General Group Plc owned 0.73% of Teck Resources worth $168,857,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Teck Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after acquiring an additional 278,481 shares during the period. Principal Financial Group Inc. boosted its holdings in Teck Resources by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after acquiring an additional 1,953,070 shares during the period. Davis Selected Advisers boosted its holdings in Teck Resources by 9.0% during the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after acquiring an additional 995,947 shares during the period. Hancock Prospecting Pty Ltd boosted its holdings in Teck Resources by 1.6% during the 3rd quarter. Hancock Prospecting Pty Ltd now owns 7,820,949 shares of the basic materials company’s stock valued at $343,261,000 after acquiring an additional 125,000 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Teck Resources by 264.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after acquiring an additional 4,194,868 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources Stock Performance
Shares of TECK opened at $65.23 on Thursday. The stock has a 50-day simple moving average of $57.13 and a 200-day simple moving average of $52.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The stock has a market capitalization of $31.44 billion, a PE ratio of 23.89, a PEG ratio of 4.78 and a beta of 0.86. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $67.67.
Teck Resources Announces Dividend
Analyst Ratings Changes
TECK has been the subject of a number of research analyst reports. Wall Street Zen upgraded Teck Resources to a “buy” rating in a report on Saturday, May 16th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, TD Securities reiterated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.17.
Check Out Our Latest Research Report on TECK
About Teck Resources
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.
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