TD Waterhouse Canada Inc. Has $86.35 Million Position in Teck Resources Ltd $TECK

TD Waterhouse Canada Inc. increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 8.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,962,883 shares of the basic materials company’s stock after buying an additional 147,562 shares during the period. TD Waterhouse Canada Inc.’s holdings in Teck Resources were worth $86,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Teck Resources during the 2nd quarter worth approximately $437,657,000. Northwest & Ethical Investments L.P. lifted its position in shares of Teck Resources by 16.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after purchasing an additional 21,900 shares in the last quarter. Invesco Ltd. boosted its holdings in Teck Resources by 10.8% during the second quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock worth $224,753,000 after purchasing an additional 543,554 shares during the last quarter. Swiss National Bank grew its position in Teck Resources by 6.0% in the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after purchasing an additional 80,300 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Teck Resources by 6.9% in the 2nd quarter. Franklin Resources Inc. now owns 368,585 shares of the basic materials company’s stock valued at $14,897,000 after buying an additional 23,842 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 0.8%

Shares of NYSE:TECK opened at $56.91 on Thursday. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $57.14. The business has a 50 day moving average of $47.09 and a 200-day moving average of $41.46. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The stock has a market cap of $27.36 billion, a PE ratio of 31.97, a P/E/G ratio of 0.60 and a beta of 0.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TECK shares. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 price target on shares of Teck Resources in a research report on Wednesday, November 26th. Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Monday. Finally, UBS Group reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Hold” and a consensus target price of $53.33.

About Teck Resources

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.