DekaBank Deutsche Girozentrale Buys 40,152 Shares of Teck Resources Ltd $TECK

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Teck Resources by 6.5%, acquiring an additional 40,152 shares, bringing its total holdings to 661,708 shares valued at approximately $26.9 million.
• Institutional investors and hedge funds own 78.06% of Teck Resources, indicating strong institutional interest in the company.
• Analysts have mixed views on Teck Resources, with the average rating categorized as "Hold" and a consensus target price of $54.00, following recent downgrades by several firms.

DekaBank Deutsche Girozentrale grew its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 661,708 shares of the basic materials company's stock after acquiring an additional 40,152 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.14% of Teck Resources worth $26,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 350 shares in the last quarter. Costello Asset Management INC acquired a new position in Teck Resources during the first quarter worth about $33,000. Banque Cantonale Vaudoise acquired a new position in Teck Resources during the first quarter worth about $36,000. Golden State Wealth Management LLC raised its stake in Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Teck Resources during the second quarter worth about $49,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TECK shares. Benchmark lowered their target price on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, July 28th. B. Riley downgraded Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Stifel Canada raised Teck Resources to a "hold" rating in a research note on Tuesday, July 8th. Stifel Nicolaus started coverage on Teck Resources in a research note on Wednesday, July 9th. They set a "hold" rating for the company. Finally, CIBC downgraded Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $54.00.

Teck Resources Stock Performance

Teck Resources stock opened at $42.18 on Thursday. The business has a 50 day moving average of $38.78 and a 200-day moving average of $37.01. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $51.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market capitalization of $20.26 billion, a P/E ratio of 111.00, a P/E/G ratio of 0.62 and a beta of 0.92.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm's revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

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.

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