Teck Resources Limited (NYSE:TECK) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 34.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,300 shares of the basic materials company’s stock after purchasing an additional 19,710 shares during the quarter. Teck Resources comprises about 0.3% of GSA Capital Partners LLP’s holdings, making the stock its 10th biggest position. GSA Capital Partners LLP’s holdings in Teck Resources were worth $3,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Atria Investments Inc grew its holdings in shares of Teck Resources by 18.3% during the third quarter. Atria Investments Inc now owns 31,759 shares of the basic materials company’s stock valued at $1,659,000 after buying an additional 4,914 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Teck Resources during the third quarter valued at about $954,000. Verdence Capital Advisors LLC grew its holdings in shares of Teck Resources by 20.7% during the third quarter. Verdence Capital Advisors LLC now owns 9,866 shares of the basic materials company’s stock valued at $515,000 after buying an additional 1,691 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, Jackson Square Capital LLC acquired a new position in shares of Teck Resources during the third quarter valued at about $1,660,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of TECK stock opened at $47.59 on Tuesday. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 72.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 52 week low of $34.56 and a 52 week high of $55.13. The firm’s 50-day simple moving average is $48.66 and its two-hundred day simple moving average is $48.78.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts forecast that Teck Resources Limited will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Scotiabank boosted their price target on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources 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.