APG Asset Management N.V. decreased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,900 shares of the basic materials company’s stock after selling 3,200 shares during the quarter. APG Asset Management N.V.’s holdings in Teck Resources were worth $5,060,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Barometer Capital Management Inc. purchased a new stake in shares of Teck Resources during the 3rd quarter worth approximately $9,203,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of Teck Resources during the 3rd quarter worth approximately $1,171,000. Shell Asset Management Co. boosted its stake in shares of Teck Resources by 175.3% during the 3rd quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock worth $3,239,000 after acquiring an additional 97,242 shares in the last quarter. Navellier & Associates Inc purchased a new stake in shares of Teck Resources during the 2nd quarter worth approximately $2,254,000. Finally, Paradigm Financial Advisors LLC purchased a new stake in shares of Teck Resources during the 2nd quarter worth approximately $711,000. 47.24% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Teck Resources Ltd (NYSE:TECK) opened at $20.84 on Friday. The company has a market capitalization of $11,889.22, a price-to-earnings ratio of 5.66, a PEG ratio of 0.79 and a beta of 1.26. The company has a current ratio of 2.17, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. Teck Resources Ltd has a twelve month low of $14.56 and a twelve month high of $33.76.
TECK has been the topic of a number of recent research reports. Zacks Investment Research lowered Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BMO Capital Markets upped their target price on Teck Resources from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, September 25th. Bank of America Corporation upped their target price on Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.12.
About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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