Sumitomo Mitsui Trust Holdings Inc. Sells 41,921 Shares of Teck Resources Ltd (NYSE:TECK)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,379,124 shares of the basic materials company’s stock after selling 41,921 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.44% of Teck Resources worth $38,597,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department acquired a new stake in Teck Resources in the 3rd quarter valued at $8,106,000. One Capital Management LLC grew its position in Teck Resources by 5.8% in the 3rd quarter. One Capital Management LLC now owns 132,685 shares of the basic materials company’s stock valued at $2,153,000 after purchasing an additional 7,331 shares during the period. Winslow Evans & Crocker Inc. grew its position in Teck Resources by 12.8% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 6,672 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 756 shares during the period. Assenagon Asset Management S.A. grew its position in Teck Resources by 336.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 154,955 shares of the basic materials company’s stock valued at $2,515,000 after purchasing an additional 119,441 shares during the period. Finally, Cerebellum GP LLC grew its position in Teck Resources by 18.3% in the 3rd quarter. Cerebellum GP LLC now owns 15,480 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 2,394 shares during the period. Institutional investors own 53.66% of the company’s stock.

TECK opened at $17.27 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.08 and a quick ratio of 1.28. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 5.50 and a beta of 1.45. The firm’s fifty day moving average price is $16.38 and its two-hundred day moving average price is $19.42. Teck Resources Ltd has a 1 year low of $14.51 and a 1 year high of $25.75.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.11. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. Teck Resources had a net margin of 13.28% and a return on equity of 8.07%. During the same period in the previous year, the firm earned $0.80 EPS. As a group, equities analysts anticipate that Teck Resources Ltd will post 2.31 EPS for the current year.

Several analysts recently issued reports on TECK shares. ValuEngine downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. TD Securities downgraded shares of Teck Resources to a “buy” rating in a report on Monday, July 22nd. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Barclays set a $33.00 price objective on shares of Teck Resources and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, B. Riley set a $39.00 price objective on shares of Teck Resources and gave the stock a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.63.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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