Teck Resources Ltd $TECK Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Teck Resources by 0.6% in the first quarter, bringing its holdings to 5,185,349 shares worth about $268.3 million.
• Other institutional investors also boosted their positions, and 78.06% of Teck Resources shares are owned by institutions and hedge funds, highlighting strong Wall Street ownership.
• Analyst sentiment remains mixed: Teck Resources currently has a consensus rating of “Hold” with a $63 average price target, even as some firms raised targets while others cut ratings.

Dimensional Fund Advisors LP boosted its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,185,349 shares of the basic materials company's stock after buying an additional 28,531 shares during the quarter. Dimensional Fund Advisors LP owned 1.08% of Teck Resources worth $268,261,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TECK. AQR Capital Management LLC lifted its holdings in shares of Teck Resources by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company's stock worth $1,264,000 after acquiring an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company's stock worth $354,000 after purchasing an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after purchasing an additional 8,146 shares during the period. Marshall Wace LLP increased its holdings in Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company's stock valued at $8,813,000 after purchasing an additional 142,816 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company's stock valued at $330,000 after purchasing an additional 8,009 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on Teck Resources from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Veritas cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Teck Resources from $64.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Zacks Research lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. Finally, TD Securities reissued a "hold" rating on shares of Teck Resources in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Teck Resources has a consensus rating of "Hold" and a consensus price target of $63.00.

Teck Resources Price Performance

Teck Resources stock opened at $57.31 on Thursday. The firm has a market cap of $27.68 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $61.59 and its two-hundred day moving average is $57.38.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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