Regal Partners Ltd Has $142.56 Million Stock Position in Teck Resources Limited (NYSE:TECK)

Regal Partners Ltd raised its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,728,980 shares of the basic materials company’s stock after buying an additional 38,949 shares during the period. Teck Resources makes up 12.6% of Regal Partners Ltd’s portfolio, making the stock its biggest holding. Regal Partners Ltd’s holdings in Teck Resources were worth $142,562,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Teck Resources during the first quarter worth about $119,000. Envestnet Portfolio Solutions Inc. increased its holdings in Teck Resources by 10.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,341 shares of the basic materials company’s stock worth $840,000 after purchasing an additional 1,711 shares in the last quarter. Empowered Funds LLC bought a new stake in Teck Resources in the first quarter worth approximately $952,000. SG Americas Securities LLC bought a new stake in Teck Resources in the first quarter worth approximately $1,641,000. Finally, Russell Investments Group Ltd. increased its holdings in Teck Resources by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 423,625 shares of the basic materials company’s stock worth $19,406,000 after purchasing an additional 5,768 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Down 3.3 %

Shares of NYSE:TECK opened at $44.91 on Thursday. The business’s 50 day moving average is $48.69 and its 200 day moving average is $48.73. 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 12-month low of $34.56 and a 12-month high of $55.13. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 68.04 and a beta of 1.04.

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

Analyst Ratings Changes

TECK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Company 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.