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

TD Waterhouse Canada Inc. increased its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,962,883 shares of the basic materials company’s stock after acquiring an additional 147,562 shares during the period. TD Waterhouse Canada Inc. owned about 0.41% of Teck Resources worth $86,346,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research note on Wednesday, November 26th. Natl Bk Canada lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.33.

Teck Resources Stock Performance

TECK stock opened at $56.91 on Thursday. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $57.14. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm 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. The business’s 50-day moving average price is $47.09 and its two-hundred day moving average price is $41.46.

Teck Resources 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.