Wellington Shields Capital Management LLC Buys New Stake in Teck Resources Ltd (TECK)

Wellington Shields Capital Management LLC bought a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,400 shares of the basic materials company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TECK. Bartlett & Co. LLC purchased a new stake in shares of Teck Resources during the fourth quarter worth about $118,000. PNC Financial Services Group Inc. bought a new stake in Teck Resources in the second quarter valued at about $124,000. C M Bidwell & Associates Ltd. bought a new stake in Teck Resources in the fourth quarter valued at about $199,000. Private Advisor Group LLC bought a new stake in Teck Resources in the third quarter valued at about $200,000. Finally, Shelton Capital Management bought a new stake in Teck Resources in the second quarter valued at about $202,000. 52.97% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Ltd (TECK) opened at $27.70 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Teck Resources Ltd has a 52 week low of $14.56 and a 52 week high of $30.79. The company has a market capitalization of $15,055.49, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40.

TECK has been the subject of several research analyst reports. BidaskClub lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. Zacks Investment Research raised Teck Resources from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a report on Friday. ValuEngine raised Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. CIBC initiated coverage on Teck Resources in a report on Friday, November 17th. They issued a “sector outperform” rating for the company. Finally, Bank of America set a $36.00 price objective on Teck Resources and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.94.

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Teck Resources Profile

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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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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