Teck Resources Ltd (NYSE:TECK) Shares Sold by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. cut its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 51.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,183 shares of the basic materials company’s stock after selling 88,338 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Teck Resources were worth $867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TECK. BNP Paribas Arbitrage SA boosted its position in Teck Resources by 94,940.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,752 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 4,747 shares during the last quarter. Capital Analysts LLC boosted its position in Teck Resources by 28.0% during the first quarter. Capital Analysts LLC now owns 7,310 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 1,600 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Teck Resources by 28.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,965 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 2,199 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in Teck Resources during the first quarter worth about $83,000. Finally, Wells Fargo & Company MN boosted its position in Teck Resources by 16.0% during the first quarter. Wells Fargo & Company MN now owns 12,540 shares of the basic materials company’s stock worth $95,000 after acquiring an additional 1,729 shares during the last quarter. Hedge funds and other institutional investors own 45.10% of the company’s stock.

A number of equities analysts recently weighed in on TECK shares. TheStreet lowered shares of Teck Resources from a “c-” rating to a “d” rating in a research report on Wednesday, April 22nd. BMO Capital Markets boosted their price target on shares of Teck Resources from $19.00 to $20.50 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Deutsche Bank boosted their price target on shares of Teck Resources from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Canaccord Genuity boosted their target price on shares of Teck Resources from $16.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Credit Suisse Group boosted their target price on shares of Teck Resources from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Teck Resources currently has an average rating of “Buy” and an average target price of $19.44.

Teck Resources stock opened at $10.13 on Friday. The company’s 50 day simple moving average is $10.64 and its 200-day simple moving average is $10.40. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -7.45, a price-to-earnings-growth ratio of 3.22 and a beta of 1.50. Teck Resources Ltd has a 1 year low of $5.60 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 1.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.20. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Teck Resources had a negative net margin of 10.04% and a positive return on equity of 3.57%. The business’s revenue was down 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Equities analysts expect that Teck Resources Ltd will post 0.67 earnings per share for the current year.

Teck Resources Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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