Exchange Traded Concepts LLC Has $239,000 Position in Teck Resources Limited (NYSE:TECK)

Exchange Traded Concepts LLC lowered its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 63.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,570 shares of the basic materials company’s stock after selling 8,106 shares during the period. Exchange Traded Concepts LLC’s holdings in Teck Resources were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TECK. Daymark Wealth Partners LLC lifted its stake in shares of Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Teck Resources by 6.0% in the 1st quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 313 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of Teck Resources by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after purchasing an additional 317 shares during the last quarter. Candriam S.C.A. lifted its stake in shares of Teck Resources by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 343 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Teck Resources by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TECK. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating for the company. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $78.00 in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $67.43.

Teck Resources Stock Performance

NYSE:TECK opened at $50.44 on Monday. The firm’s 50-day moving average is $48.61 and its 200-day moving average is $48.69. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 24.73 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources Limited will post 1.94 earnings per share 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.