Alps Advisors Inc. Boosts Position in Teck Resources Ltd $TECK

Alps Advisors Inc. grew its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 37.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 166,334 shares of the basic materials company’s stock after purchasing an additional 45,194 shares during the period. Alps Advisors Inc.’s holdings in Teck Resources were worth $7,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TECK. HighPoint Advisor Group LLC grew its stake in Teck Resources by 10.9% in the 3rd quarter. HighPoint Advisor Group LLC now owns 10,959 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 1,077 shares during the last quarter. SouthState Bank Corp purchased a new stake in shares of Teck Resources in the third quarter valued at about $50,000. Allianz Asset Management GmbH grew its position in shares of Teck Resources by 0.3% in the third quarter. Allianz Asset Management GmbH now owns 455,080 shares of the basic materials company’s stock valued at $19,967,000 after purchasing an additional 1,395 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Teck Resources by 288.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 10,590 shares of the basic materials company’s stock valued at $439,000 after buying an additional 7,866 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after purchasing an additional 4,474,637 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $54.99 on Monday. The company has a market cap of $26.44 billion, a PE ratio of 30.89, a P/E/G ratio of 0.55 and a beta of 0.80. The firm has a 50-day simple moving average of $49.11 and a 200 day simple moving average of $42.36. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $60.71. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 target price on shares of Teck Resources in a research report on Wednesday, November 26th. Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Natl Bk Canada lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

About Teck Resources

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.