Teck Resources Ltd. (TCK) Stake Raised by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. increased its stake in Teck Resources Ltd. (NYSE:TCK) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437,503 shares of the company’s stock after buying an additional 5,445 shares during the period. UBS Asset Management Americas Inc. owned 0.25% of Teck Resources worth $18,828,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TCK. Commonwealth Equity Services Inc raised its position in shares of Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock valued at $253,000 after buying an additional 900 shares in the last quarter. Oak Associates Ltd. OH raised its position in shares of Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Teck Resources by 27.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,123 shares of the company’s stock valued at $476,000 after buying an additional 7,887 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Teck Resources during the first quarter valued at $527,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Teck Resources during the second quarter valued at $600,000. 49.75% of the stock is owned by institutional investors.
Teck Resources Ltd. (NYSE:TCK) traded down 0.45% during mid-day trading on Tuesday, hitting $17.86. 3,895,651 shares of the company were exchanged. The stock’s market cap is $10.29 billion. Teck Resources Ltd. has a 12-month low of $2.56 and a 12-month high of $18.84. The company has a 50 day moving average of $16.46 and a 200 day moving average of $12.06.
Teck Resources (NYSE:TCK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The company earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue was down 13.0% on a year-over-year basis. On average, equities research analysts expect that Teck Resources Ltd. will post $0.45 earnings per share for the current fiscal year.
Several research analysts have weighed in on TCK shares. Clarkson Capital raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, July 18th. TD Securities reissued a “buy” rating and set a $20.00 price objective (up from $17.00) on shares of Teck Resources in a report on Friday, July 1st. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Saturday, July 9th. Morgan Stanley raised shares of Teck Resources from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $7.00 to $18.00 in a report on Thursday, September 15th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Teck Resources in a report on Tuesday, June 28th. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.81.
About Teck Resources
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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