Kapitalo Investimentos Ltda grew its holdings in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 352,859 shares of the basic materials company’s stock after buying an additional 50,000 shares during the period. Teck Resources accounts for 3.4% of Kapitalo Investimentos Ltda’s portfolio, making the stock its 11th biggest position. Kapitalo Investimentos Ltda owned approximately 0.07% of Teck Resources worth $18,260,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Temasek Holdings Private Ltd grew its position in shares of Teck Resources by 1.1% in the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after buying an additional 57,380 shares during the period. New York Life Investment Management LLC purchased a new position in Teck Resources during the 4th quarter valued at about $11,014,000. Cardinal Point Capital Management ULC bought a new stake in Teck Resources during the fourth quarter worth about $379,000. ABN Amro Investment Solutions boosted its stake in Teck Resources by 156.4% during the fourth quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock worth $24,471,000 after acquiring an additional 311,694 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in Teck Resources in the fourth quarter worth about $26,838,000. Institutional investors own 78.06% of the company’s stock.
Teck Resources Stock Down 0.9%
Shares of Teck Resources stock opened at $54.54 on Tuesday. 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 $26.33 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25. The company has a 50-day simple moving average of $61.96 and a two-hundred day simple moving average of $57.26.
Teck Resources Announces Dividend
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.
Get Our Latest Analysis on Teck Resources
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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