Fourth Sail Capital LP bought a new position in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 148,500 shares of the basic materials company’s stock, valued at approximately $7,112,000. Teck Resources makes up approximately 1.1% of Fourth Sail Capital LP’s investment portfolio, making the stock its 24th largest holding.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECK. Brown Brothers Harriman & Co. bought a new stake in Teck Resources during the fourth quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its holdings in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. Tobam raised its holdings in Teck Resources by 30.9% during the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 475 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Teck Resources by 82.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,217 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Teck Resources during the fourth quarter worth approximately $103,000. Institutional investors own 78.06% of the company’s stock.
Teck Resources Trading Up 1.9%
Teck Resources stock opened at $64.80 on Friday. The company’s fifty day simple moving average is $60.94 and its 200-day simple moving average is $54.35. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a 12 month low of $30.98 and a 12 month high of $71.25. The stock has a market cap of $31.24 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.93 and a beta of 0.89.
Teck Resources Dividend Announcement
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Benchmark upped their price target on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $67.00 price target on Teck Resources in a report on Monday, February 23rd. Finally, TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.17.
Check Out Our Latest Report on TECK
Teck Resources 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.
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