9,846 Shares in Teck Resources Ltd $TECK Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors acquired a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the third quarter, Holdings Channel reports. The institutional investor acquired 9,846 shares of the basic materials company’s stock, valued at approximately $432,000.

A number of other institutional investors have also bought and sold shares of TECK. Versant Capital Management Inc bought a new stake in Teck Resources in the third quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teck Resources during the 2nd quarter valued at $49,000. Tobam bought a new stake in shares of Teck Resources during the second quarter worth about $62,000. CWM LLC increased its holdings in Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 384 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Teck Resources by 38.7% during the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock worth $132,000 after buying an additional 910 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 3.1%

Shares of Teck Resources stock opened at $56.45 on Wednesday. The stock has a market capitalization of $27.14 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 0.58 and a beta of 0.79. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $56.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The company’s 50 day moving average price is $46.75 and its 200-day moving average price is $41.36.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TECK shares. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday. Raymond James Financial lowered shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their price target on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.33.

Teck Resources Company 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.