Sequoia Financial Advisors LLC Sells 285 Shares of Teck Resources Limited (NYSE:TECK)

Sequoia Financial Advisors LLC reduced its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,530 shares of the basic materials company’s stock after selling 285 shares during the period. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after purchasing an additional 290,034 shares in the last quarter. Janus Henderson Group PLC lifted its position in Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Teck Resources by 1.4% in the second quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock worth $303,161,000 after buying an additional 90,089 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Teck Resources by 7.3% during the second quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock worth $292,441,000 after acquiring an additional 416,070 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Teck Resources by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock worth $280,655,000 after acquiring an additional 546,801 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $47.35 on Monday. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. The stock has a fifty day moving average of $48.73 and a 200 day moving average of $48.72. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of research reports. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. CIBC boosted their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Company 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.