Mufg Securities Canada LTD. cut its stake in shares of Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 680,583 shares of the basic materials company’s stock after selling 62,780 shares during the period. Mufg Securities Canada LTD. owned approximately 0.14% of Teck Resources worth $32,590,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Teck Resources during the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its position 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 worth $37,000 after purchasing an additional 351 shares during the period. Tobam raised its position in shares of 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 during the period. EverSource Wealth Advisors LLC raised its position in shares of 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 during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $103,000. 78.06% of the stock is owned by institutional investors and hedge funds.
Teck Resources Stock Performance
Shares of TECK stock opened at $64.80 on Monday. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $31.24 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 3.93 and a beta of 0.89. The stock’s fifty day simple moving average is $60.94 and its 200-day simple moving average is $54.44.
Teck Resources Dividend Announcement
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Truist Financial set a $67.00 target price on Teck Resources in a research report on Monday, February 23rd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price target on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.17.
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.
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