Quantitative Systematic Strategies LLC purchased a new position in Teck Resources Ltd. (NYSE:TCK) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 47,809 shares of the company’s stock, valued at approximately $600,000.
A number of other institutional investors have also bought and sold shares of TCK. Acadian Asset Management LLC acquired a new position in Teck Resources during the second quarter worth $33,966,000. Montrusco Bolton Investments Inc. purchased a new position in shares of Teck Resources during the second quarter worth approximately $8,035,000. Investec Asset Management LTD purchased a new position in shares of Teck Resources during the first quarter worth approximately $4,590,000. Dodge & Cox increased its position in shares of Teck Resources by 0.9% in the first quarter. Dodge & Cox now owns 58,085,503 shares of the company’s stock worth $442,031,000 after buying an additional 501,242 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock worth $1,170,000 after buying an additional 100,700 shares during the period. Hedge funds and other institutional investors own 47.23% of the company’s stock.
Teck Resources Ltd. (NYSE:TCK) traded up 3.64% during mid-day trading on Friday, reaching $18.77. 10,984,472 shares of the company traded hands. The firm’s 50-day moving average is $17.54 and its 200 day moving average is $13.28. The stock’s market capitalization is $10.82 billion. Teck Resources Ltd. has a 52-week low of $2.56 and a 52-week high of $19.08.
Teck Resources (NYSE:TCK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping 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 business earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.14 earnings per share. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources Ltd. will post $0.63 earnings per share for the current year.
TCK has been the topic of a number of analyst reports. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Teck Resources in a research note on Tuesday, June 28th. TD Securities reaffirmed a “buy” rating and set a $20.00 target price (up from $17.00) on shares of Teck Resources in a research note on Friday, July 1st. Zacks Investment Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 1st. Deutsche Bank AG reaffirmed a “sell” rating on shares of Teck Resources in a research note on Thursday, July 7th. Finally, Clarkson Capital raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, July 18th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.88.
Teck Resources Company Profile
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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