Teck Resources Limited (NYSE:TECK) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. lessened its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 8.9% during the third quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TECK. Headlands Technologies LLC purchased a new stake in Teck Resources during the second quarter valued at about $38,000. Eastern Bank acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $39,000. Bruce G. Allen Investments LLC grew its holdings in shares of 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 period. Blue Trust Inc. increased its position in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Down 4.6 %

Shares of NYSE TECK opened at $48.69 on Friday. The company has a market cap of $24.64 billion, a price-to-earnings ratio of 73.77 and a beta of 1.04. The stock’s 50 day simple moving average is $48.66 and its 200 day simple moving average is $48.77. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $0.57 earnings per share. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. Equities research analysts expect that Teck Resources Limited will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

TECK has been the subject of several research reports. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Scotiabank boosted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. reduced 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 note on Friday, October 25th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

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.