Teck Resources Limited (NYSE:TECK) Short Interest Up 17.0% in January

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 7,990,000 shares, an increase of 17.0% from the January 15th total of 6,830,000 shares. Based on an average trading volume of 2,690,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James cut their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. 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 report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Hedge Funds Weigh In On Teck Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Teck Resources in the 4th quarter valued at approximately $470,101,000. Swedbank AB bought a new stake in Teck Resources in the 4th quarter valued at approximately $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in Teck Resources in the 4th quarter valued at approximately $65,197,000. FMR LLC lifted its stake in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Trading Down 1.7 %

Shares of Teck Resources stock traded down $0.74 during trading on Monday, hitting $43.12. 2,432,855 shares of the company were exchanged, compared to its average volume of 2,856,734. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm’s fifty day moving average price is $42.23 and its 200 day moving average price is $45.82. Teck Resources has a 1-year low of $37.30 and a 1-year high of $55.13. The firm has a market capitalization of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02.

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.