Teck Resources Limited (NYSE:TECK) Stock Holdings Decreased by Foundation Resource Management Inc.

Foundation Resource Management Inc. reduced its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,995 shares of the basic materials company’s stock after selling 18,688 shares during the period. Teck Resources comprises approximately 8.1% of Foundation Resource Management Inc.’s holdings, making the stock its largest position. Foundation Resource Management Inc. owned approximately 0.20% of Teck Resources worth $52,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LVW Advisors LLC purchased a new position in Teck Resources during the third quarter valued at approximately $215,000. Strategic Advisors LLC acquired a new stake in Teck Resources in the third quarter valued at approximately $1,506,000. Cypress Wealth Services LLC acquired a new stake in Teck Resources in the third quarter valued at approximately $210,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Teck Resources by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after buying an additional 242 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.6 %

Shares of Teck Resources stock opened at $51.21 on Friday. The firm has a market capitalization of $26.05 billion, a PE ratio of 25.10 and a beta of 1.02. 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 company’s fifty day moving average price is $48.04 and its two-hundred day moving average price is $48.48. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its 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. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that Teck Resources Limited will post 2 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TECK shares. Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th. Finally, BMO Capital Markets started coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Teck Resources 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.