M&G Plc Has $27.09 Million Holdings in Teck Resources Limited (NYSE:TECK)

M&G Plc trimmed its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 521,000 shares of the basic materials company’s stock after selling 11,222 shares during the quarter. M&G Plc owned 0.10% of Teck Resources worth $27,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. AMF Tjanstepension AB lifted its stake in Teck Resources by 846.6% during the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock worth $210,034,000 after purchasing an additional 3,919,984 shares during the period. Asia Research & Capital Management Ltd bought a new position in shares of Teck Resources during the 1st quarter worth approximately $158,976,000. Castle Hook Partners LP acquired a new stake in Teck Resources in the 1st quarter valued at $90,980,000. TD Asset Management Inc grew its position in Teck Resources by 49.0% in the second quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock valued at $237,202,000 after acquiring an additional 1,629,149 shares during the period. Finally, National Bank of Canada FI grew its position in Teck Resources by 48.4% in the second quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company’s stock valued at $188,111,000 after acquiring an additional 1,283,876 shares during the period. 78.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. CIBC boosted their target price on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. BMO Capital Markets assumed coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating on the stock. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Trading Up 4.0 %

TECK stock opened at $51.06 on Friday. 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 twelve month low of $34.38 and a twelve month high of $55.13. The company has a market cap of $25.84 billion, a P/E ratio of 77.36 and a beta of 1.04. The business has a fifty day moving average of $48.65 and a 200-day moving average of $48.73.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced 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. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. As a group, equities research analysts expect that Teck Resources Limited will post 1.91 EPS for the current 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.