Hancock Prospecting Pty Ltd boosted its holdings in Teck Resources Ltd (NYSE:TECK – Free Report) (TSE:TECK) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,298,293 shares of the basic materials company’s stock after buying an additional 2,477,344 shares during the quarter. Teck Resources accounts for approximately 15.2% of Hancock Prospecting Pty Ltd’s holdings, making the stock its 3rd biggest position. Hancock Prospecting Pty Ltd owned approximately 2.14% of Teck Resources worth $493,185,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. raised its position in Teck Resources by 23.2% in the 4th quarter. Russell Investments Group Ltd. now owns 296,877 shares of the basic materials company’s stock worth $14,229,000 after buying an additional 55,949 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in Teck Resources in the 4th quarter worth about $2,007,000. Maryland State Retirement & Pension System raised its position in Teck Resources by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 86,331 shares of the basic materials company’s stock worth $4,141,000 after buying an additional 1,900 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in Teck Resources in the 4th quarter worth about $7,745,000. Finally, Captrust Financial Advisors purchased a new position in Teck Resources in the 4th quarter worth about $2,673,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.
Teck Resources Trading Up 1.3%
Shares of NYSE:TECK opened at $66.99 on Wednesday. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month 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 cap of $32.30 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 4.01 and a beta of 0.89. The stock has a 50 day moving average of $61.49 and a 200 day moving average of $54.78.
Teck Resources Dividend Announcement
Analyst Ratings Changes
Several equities research analysts have recently commented on TECK shares. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Wall Street Zen raised shares of Teck Resources to a “buy” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.17.
Get Our Latest Stock Analysis on TECK
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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