Massachusetts Financial Services Co. MA Buys 17,996 Shares of Teck Resources Ltd $TECK

Massachusetts Financial Services Co. MA increased its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,874,401 shares of the basic materials company’s stock after buying an additional 17,996 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.39% of Teck Resources worth $82,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Teck Resources in the second quarter valued at $437,657,000. Northwest & Ethical Investments L.P. lifted its position in Teck Resources by 16.1% during the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after acquiring an additional 21,900 shares during the last quarter. Invesco Ltd. grew its position in shares of Teck Resources by 10.8% in the second quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock valued at $224,753,000 after purchasing an additional 543,554 shares during the last quarter. Swiss National Bank increased its stake in shares of Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after purchasing an additional 80,300 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Teck Resources by 6.9% in the 2nd quarter. Franklin Resources Inc. now owns 368,585 shares of the basic materials company’s stock valued at $14,897,000 after purchasing an additional 23,842 shares during the period. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.7%

Shares of NYSE:TECK opened at $50.19 on Wednesday. The firm has a market cap of $24.14 billion, a P/E ratio of 28.20, a P/E/G ratio of 0.54 and a beta of 0.79. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $52.42. The business has a fifty day simple moving average of $45.51 and a 200 day simple moving average of $40.84. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Analyst Ratings Changes

TECK has been the topic of a number of recent research reports. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Weiss Ratings raised Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, October 24th. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $46.00 price target on shares of Teck Resources in a research note on Wednesday, November 26th. Finally, Citigroup reissued a “neutral” rating on shares of Teck Resources in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and a consensus price target of $55.71.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.