Trek Financial LLC Sells 26,552 Shares of Teck Resources Ltd $TECK

Trek Financial LLC trimmed its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,975 shares of the basic materials company’s stock after selling 26,552 shares during the period. Trek Financial LLC’s holdings in Teck Resources were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Citigroup restated a “neutral” rating on shares of Teck Resources in a research note on Thursday, January 15th. Natl Bk Canada downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. Finally, Benchmark restated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.33.

Teck Resources Trading Up 3.5%

Shares of NYSE:TECK traded up $1.80 during mid-day trading on Friday, reaching $53.04. The stock had a trading volume of 6,549,514 shares, compared to its average volume of 3,726,702. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.00. The firm has a 50 day simple moving average of $46.12 and a two-hundred day simple moving average of $41.08. The firm has a market cap of $25.50 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79.

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

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.