Teck Resources Limited (NYSE:TECK) Shares Acquired by Affinity Wealth Management LLC

Affinity Wealth Management LLC lifted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 104,781 shares of the basic materials company’s stock after acquiring an additional 518 shares during the period. Teck Resources accounts for approximately 1.0% of Affinity Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Affinity Wealth Management LLC’s holdings in Teck Resources were worth $5,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB increased its holdings in shares of Teck Resources by 846.6% in the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after acquiring an additional 3,919,984 shares during the period. Asia Research & Capital Management Ltd acquired a new position in Teck Resources in the first quarter valued at $158,976,000. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 115.4% in the first quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company’s stock valued at $260,584,000 after buying an additional 3,047,570 shares during the last quarter. Castle Hook Partners LP acquired a new stake in shares of Teck Resources during the first quarter worth about $90,980,000. Finally, TD Asset Management Inc grew its holdings in shares of Teck Resources by 49.0% during the second quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock worth $237,202,000 after buying an additional 1,629,149 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the subject of several analyst reports. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. BMO Capital Markets assumed coverage on Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating for the company. Finally, UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $78.00 in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

Teck Resources Price Performance

Shares of Teck Resources stock traded down $0.39 on Monday, hitting $50.81. The company’s stock had a trading volume of 466,802 shares, compared to its average volume of 3,428,630. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $48.04 and a 200-day moving average price of $48.55. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The company has a market capitalization of $25.96 billion, a P/E ratio of 22.65 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources Limited will post 2 earnings per share for the current fiscal year.

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.