Teck Resources Limited (NYSE:TECK) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 111.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,392 shares of the basic materials company’s stock after acquiring an additional 119,767 shares during the period. Intact Investment Management Inc.’s holdings in Teck Resources were worth $11,878,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Stephens Inc. AR acquired a new stake in Teck Resources in the third quarter valued at $480,000. US Bancorp DE raised its stake in Teck Resources by 27.9% in the third quarter. US Bancorp DE now owns 21,548 shares of the basic materials company’s stock valued at $1,126,000 after buying an additional 4,704 shares in the last quarter. Avitas Wealth Management LLC raised its stake in Teck Resources by 33.2% in the third quarter. Avitas Wealth Management LLC now owns 33,672 shares of the basic materials company’s stock valued at $1,759,000 after buying an additional 8,399 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Teck Resources by 1,291.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $167,000 after buying an additional 2,970 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in Teck Resources by 22.1% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 34,200 shares of the basic materials company’s stock valued at $1,787,000 after buying an additional 6,200 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.75 on Monday. The stock has a market capitalization of $23.66 billion, a PE ratio of 70.83 and a beta of 1.04. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The stock’s 50-day moving average price is $48.58 and its 200 day moving average price is $48.70. The company has a quick ratio of 0.77, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, equities research analysts forecast that Teck Resources Limited will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TECK shares. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.