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

Van ECK Associates Corp lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,166,418 shares of the basic materials company’s stock after selling 74,613 shares during the period. Van ECK Associates Corp’s holdings in Teck Resources were worth $47,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TECK. Swedbank AB bought a new position in shares of Teck Resources during the fourth quarter worth approximately $103,878,000. FMR LLC increased its stake in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Teck Resources during the 3rd quarter worth $70,549,000. Principal Financial Group Inc. increased its stake in Teck Resources by 21.7% during the 3rd 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 during the period. Finally, Holocene Advisors LP increased its stake in Teck Resources by 152.7% during the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after acquiring an additional 1,251,203 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 2.1 %

NYSE TECK opened at $43.85 on Friday. 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 Limited has a twelve month low of $36.93 and a twelve month high of $55.13. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 66.43 and a beta of 1.02. The business’s fifty day moving average is $42.30 and its 200 day moving average is $45.90.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TECK shares. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James lowered their price objective 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.38.

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.