Truist Financial Corp Sells 11,770 Shares of Teck Resources Ltd $TECK

Truist Financial Corp reduced its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 38.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,680 shares of the basic materials company’s stock after selling 11,770 shares during the period. Truist Financial Corp’s holdings in Teck Resources were worth $820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Teck Resources in the 3rd quarter worth about $26,000. Tobam purchased a new position in Teck Resources in the second quarter worth about $62,000. CWM LLC lifted its stake in shares of Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after buying an additional 384 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Teck Resources by 38.7% during the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock valued at $132,000 after buying an additional 910 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Teck Resources during the second quarter valued at approximately $153,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $58.40 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. Teck Resources Ltd has a one year low of $28.32 and a one year high of $60.71. The firm has a market capitalization of $28.08 billion, a P/E ratio of 32.81, a PEG ratio of 0.58 and a beta of 0.80. The business has a fifty day moving average of $49.70 and a 200 day moving average of $42.70.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. Raymond James Financial cut Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. Citigroup raised Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Finally, Natl Bk Canada downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

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.