Alan B Lancz & Associates Inc. Cuts Stock Holdings in Teck Resources Limited (NYSE:TECK)

Alan B Lancz & Associates Inc. lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,250 shares of the basic materials company’s stock after selling 1,100 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Teck Resources were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Teck Resources during the 3rd quarter worth $39,000. Headlands Technologies LLC acquired a new position in Teck Resources during the second quarter worth about $38,000. Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% during the third 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. Massmutual Trust Co. FSB ADV increased its holdings in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 898 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK opened at $48.69 on Friday. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13. The company’s 50 day simple moving average is $48.66 and its 200 day simple moving average is $48.77. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of 73.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The company 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%. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. On average, sell-side analysts predict that Teck Resources Limited will post 1.91 EPS for the current year.

Analyst Ratings Changes

TECK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average 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.