Van ECK Associates Corp Sells 74,613 Shares of Teck Resources Limited (NYSE:TECK)

Van ECK Associates Corp reduced its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,418 shares of the basic materials company’s stock after selling 74,613 shares during the quarter. Van ECK Associates Corp owned 0.23% of Teck Resources worth $47,269,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after acquiring an additional 165,759 shares in the last quarter. AMF Tjanstepension AB increased its holdings in shares of Teck Resources by 3.9% in the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after acquiring an additional 169,476 shares in the last quarter. FMR LLC increased its holdings in shares of Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after acquiring an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd increased its holdings in shares of Teck Resources by 1.4% in the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock worth $142,562,000 after acquiring an additional 38,949 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the subject of a number of research reports. Raymond James decreased their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Performance

TECK opened at $43.85 on Friday. Teck Resources Limited has a 12-month low of $36.93 and a 12-month high of $55.13. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 66.43 and a beta of 1.02. The business has a 50 day moving average of $42.30 and a 200-day moving average of $45.90. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources Company Profile

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.