Teck Resources Limited (NYSE:TECK) Short Interest Up 17.0% in January

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 7,990,000 shares, an increase of 17.0% from the January 15th total of 6,830,000 shares. Based on an average daily volume of 2,690,000 shares, the short-interest ratio is presently 3.0 days. Currently, 1.6% of the company’s stock are short sold.

Teck Resources Stock Performance

NYSE TECK traded down $0.74 on Monday, reaching $43.12. The stock had a trading volume of 2,432,855 shares, compared to its average volume of 2,856,734. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a fifty day moving average of $42.23 and a two-hundred day moving average of $45.82. Teck Resources has a 1-year low of $37.30 and a 1-year high of $55.13. The company has a market cap of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $65.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC grew its holdings in shares of Teck Resources by 77.7% during the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP grew its holdings in shares of Teck Resources by 3.7% during the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock worth $37,661,000 after purchasing an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Teck Resources during the 3rd quarter worth $1,937,000. CIBC Asset Management Inc lifted its position in shares of Teck Resources by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after buying an additional 165,759 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Teck Resources by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after buying an additional 16,981 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

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.