U S Global Investors Inc. Takes Position in Teck Resources Limited (NYSE:TECK)

U S Global Investors Inc. bought a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,500 shares of the basic materials company’s stock, valued at approximately $444,000.

A number of other institutional investors have also recently added to or reduced their stakes in TECK. Vanguard Group Inc. increased its stake in Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after acquiring an additional 290,034 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Teck Resources by 2.4% in the first quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock valued at $394,178,000 after buying an additional 203,607 shares in the last quarter. CIBC Asset Management Inc grew its stake in Teck Resources by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock worth $303,161,000 after purchasing an additional 90,089 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Teck Resources by 7.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock worth $292,441,000 after purchasing an additional 416,070 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Teck Resources by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock worth $280,655,000 after purchasing an additional 546,801 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock traded down $0.31 during mid-day trading on Tuesday, hitting $49.40. 127,490 shares of the company were exchanged, compared to its average volume of 3,413,398. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The business’s 50 day simple moving average is $48.67 and its two-hundred day simple moving average is $48.71. The company has a market capitalization of $25.24 billion, a P/E ratio of 21.99 and a beta of 1.02. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Analysts forecast that Teck Resources Limited will post 1.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TECK. Benchmark restated a “buy” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. BMO Capital Markets initiated coverage on Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating for the company. Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $67.43.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.