Trek Financial LLC Lowers Position in Teck Resources Ltd $TECK

Trek Financial LLC cut its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,975 shares of the basic materials company’s stock after selling 26,552 shares during the quarter. Trek Financial LLC’s holdings in Teck Resources were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock valued at $1,264,000 after purchasing an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 7,963 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after buying an additional 8,146 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Teck Resources in the second quarter worth $245,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Teck Resources by 351.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,654 shares of the basic materials company’s stock worth $188,000 after buying an additional 3,624 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 3.5%

Shares of TECK stock traded up $1.80 during trading hours on Friday, reaching $53.04. The company had a trading volume of 6,549,514 shares, compared to its average volume of 3,726,702. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.00. The business has a fifty day simple moving average of $46.12 and a 200-day simple moving average of $41.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The company has a market cap of $25.50 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $0.60 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

TECK has been the topic of several research reports. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. Canaccord Genuity Group lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $53.33.

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.