Teck Resources Ltd (TECK) Shares Bought by Global X MANAGEMENT CO LLC
Global X MANAGEMENT CO LLC raised its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 34.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 100,793 shares of the basic materials company’s stock after acquiring an additional 25,850 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Teck Resources were worth $2,117,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Letko Brosseau & Associates Inc. bought a new position in Teck Resources during the 2nd quarter valued at about $237,787,000. Impala Asset Management LLC bought a new position in shares of Teck Resources in the 2nd quarter worth approximately $217,614,000. Capital Research Global Investors bought a new position in shares of Teck Resources in the 2nd quarter worth approximately $187,626,000. Vanguard Group Inc. bought a new position in shares of Teck Resources in the 2nd quarter worth approximately $182,655,000. Finally, TD Asset Management Inc. bought a new position in shares of Teck Resources in the 2nd quarter worth approximately $146,189,000. Institutional investors and hedge funds own 45.80% of the company’s stock.
TECK has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, October 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. MKM Partners reissued a “buy” rating and issued a $30.00 target price on shares of Teck Resources in a report on Wednesday, September 20th. Bank of America Corporation increased their target price on shares of Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, BidaskClub lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. One analyst has rated the stock with a sell rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.13.
Shares of Teck Resources Ltd (NYSE:TECK) opened at $21.84 on Tuesday. Teck Resources Ltd has a 52-week low of $14.56 and a 52-week high of $33.76. The firm has a market capitalization of $12,282.86, a price-to-earnings ratio of 5.85, a PEG ratio of 0.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.
About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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