Heathbridge Capital Management Ltd. Sells 550 Shares of Teck Resources Limited (NYSE:TECK)

Heathbridge Capital Management Ltd. reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,200 shares of the basic materials company’s stock after selling 550 shares during the quarter. Teck Resources comprises 3.4% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 16th biggest position. Heathbridge Capital Management Ltd.’s holdings in Teck Resources were worth $9,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Teck Resources during the second quarter worth approximately $38,000. Bruce G. Allen Investments LLC lifted its holdings 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 purchasing an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the period. Finally, Blue Trust Inc. grew its holdings in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 0.4 %

TECK stock opened at $50.52 on Friday. The firm has a 50-day moving average price of $48.51 and a 200-day moving average price of $48.64. The stock has a market capitalization of $25.81 billion, a P/E ratio of 22.35 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. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. 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 previous year, the company posted $0.91 EPS. Teck Resources’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Teck Resources Limited will post 2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TECK. JPMorgan Chase & Co. lifted their target price on Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley increased their target price on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. CIBC increased their price target on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets began coverage on Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.43.

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.