Clarius Group LLC Sells 2,139 Shares of Teck Resources Limited (NYSE:TECK)

by · The Cerbat Gem

Clarius Group LLC lowered its holdings in Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,228 shares of the basic materials company’s stock after selling 2,139 shares during the quarter. Clarius Group LLC’s holdings in Teck Resources were worth $378,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Teck Resources during the first quarter worth about $485,000. Vanguard Group Inc. lifted its position in shares of Teck Resources by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after acquiring an additional 290,034 shares during the period. Country Club Bank acquired a new position in shares of Teck Resources during the 2nd quarter worth $1,747,000. FIL Ltd raised its holdings in shares of Teck Resources by 98.8% during the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after buying an additional 5,933,226 shares in the last quarter. Finally, Quattro Financial Advisors LLC acquired a new position in Teck Resources in the 1st quarter worth about $927,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 1.6 %

TECK opened at $51.21 on Friday. The firm has a 50-day simple moving average of $48.04 and a two-hundred day simple moving average of $48.48. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a market capitalization of $26.05 billion, a PE ratio of 25.10 and a beta of 1.02. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Analysts forecast that Teck Resources Limited will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TECK shares. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $78.00 in a research note on Wednesday, September 4th. Morgan Stanley increased their price objective on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Eight Capital lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, TD Securities raised Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Get Our Latest Research Report on TECK

About Teck Resources

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK).