Regal Partners Ltd Boosts Stock Position in Teck Resources Limited (NYSE:TECK)

Regal Partners Ltd boosted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,728,980 shares of the basic materials company’s stock after acquiring an additional 38,949 shares during the period. Teck Resources accounts for 12.6% of Regal Partners Ltd’s holdings, making the stock its biggest position. Regal Partners Ltd owned about 0.54% of Teck Resources worth $142,562,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Teck Resources in the 2nd quarter valued at $38,000. Eastern Bank bought a new position in Teck Resources during the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC increased its position in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares during the period. Blue Trust Inc. increased its position in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after buying an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE:TECK opened at $44.91 on Thursday. The stock’s 50-day simple moving average is $48.69 and its 200 day simple moving average is $48.73. The firm has a market capitalization of $22.64 billion, a PE ratio of 68.04 and a beta of 1.04. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a twelve month low of $34.56 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Teck Resources’s revenue was down 20.6% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts anticipate that Teck Resources Limited will post 1.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on TECK shares. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Finally, UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

About Teck Resources

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.