Teck Resources Limited (NYSE:TECK) Shares Sold by Farrow Financial Inc.

Farrow Financial Inc. cut its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,662 shares of the basic materials company’s stock after selling 1,330 shares during the period. Teck Resources makes up approximately 1.4% of Farrow Financial Inc.’s holdings, making the stock its 27th biggest position. Farrow Financial Inc.’s holdings in Teck Resources were worth $2,281,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TECK. Vanguard Group Inc. boosted its stake 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 worth $765,493,000 after acquiring an additional 290,034 shares in the last quarter. Janus Henderson Group PLC increased its stake in Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after purchasing an additional 203,607 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Teck Resources by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock worth $303,161,000 after buying an additional 90,089 shares during the period. Principal Financial Group Inc. lifted its stake in Teck Resources by 7.3% during the second quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock valued at $292,441,000 after buying an additional 416,070 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Teck Resources by 10.3% in the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock worth $280,655,000 after buying an additional 546,801 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Up 1.2 %

Shares of TECK traded up $0.54 during mid-day trading on Friday, hitting $47.35. 2,922,695 shares of the company’s stock were exchanged, compared to its average volume of 3,444,022. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02. The firm has a fifty day moving average of $48.73 and a two-hundred day moving average of $48.73. 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 Limited has a twelve month low of $34.38 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, sell-side analysts forecast that Teck Resources Limited will post 1.93 earnings per share for the current year.

Analysts Set New Price Targets

TECK has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday. Scotiabank lifted their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. Four 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. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.