Jade Capital Advisors LLC Sells 45,000 Shares of Teck Resources Limited (NYSE:TECK)

Jade Capital Advisors LLC lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 69.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the basic materials company’s stock after selling 45,000 shares during the period. Jade Capital Advisors LLC’s holdings in Teck Resources were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TECK. Hexagon Capital Partners LLC lifted its holdings in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares in the last quarter. Headlands Technologies LLC bought a new stake in Teck Resources in the 2nd quarter valued at about $38,000. Bruce G. Allen Investments LLC grew its position in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 1.5 %

Shares of TECK stock opened at $49.70 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $25.39 billion, a P/E ratio of 21.99 and a beta of 1.02. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The stock’s fifty day simple moving average is $48.67 and its 200 day simple moving average is $48.71.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.32. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, sell-side analysts predict that Teck Resources Limited will post 1.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets assumed coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. CIBC boosted their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Scotiabank increased their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.43.

About Teck Resources

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.