Candriam Luxembourg S.C.A. cut its position in Teck Resources Ltd. (NYSE:TCK) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 20,242 shares of the company’s stock after selling 431 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Teck Resources were worth $265,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Oak Associates Ltd. OH increased its stake in shares of Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock worth $317,000 after buying an additional 400 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Teck Resources during the first quarter worth about $527,000. Canada Pension Plan Investment Board boosted its position in shares of Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock worth $1,170,000 after buying an additional 100,700 shares during the last quarter. One Capital Management LLC boosted its position in shares of Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock worth $1,469,000 after buying an additional 26,451 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its position in shares of Teck Resources by 3.0% in the first quarter. AMP Capital Investors Ltd now owns 278,011 shares of the company’s stock worth $2,180,000 after buying an additional 8,100 shares during the last quarter. Institutional investors own 47.23% of the company’s stock.
Shares of Teck Resources Ltd. (NYSE:TCK) traded down 2.84% during mid-day trading on Thursday, hitting $18.11. The stock had a trading volume of 8,005,285 shares. Teck Resources Ltd. has a 1-year low of $2.56 and a 1-year high of $19.08. The company’s market cap is $10.44 billion. The firm’s 50 day moving average price is $17.48 and its 200 day moving average price is $13.25.
Teck Resources (NYSE:TCK) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company earned $1.74 billion during the quarter, compared to the consensus estimate of $1.33 billion. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Analysts predict that Teck Resources Ltd. will post $0.63 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on TCK shares. Deutsche Bank AG raised Teck Resources from a “sell” rating to a “hold” rating and increased their target price for the stock from $11.50 to $20.00 in a report on Monday, October 3rd. Zacks Investment Research raised Teck Resources from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Wednesday, October 5th. Sanford C. Bernstein reissued a “sell” rating and issued a $10.00 target price on shares of Teck Resources in a report on Friday, August 19th. TD Securities reissued a “buy” rating and issued a $24.00 target price on shares of Teck Resources in a report on Thursday, August 25th. Finally, Berenberg Bank started coverage on Teck Resources in a report on Friday, August 19th. They issued a “sell” rating and a $10.00 target price for the company. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.88.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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