Clarius Group LLC Trims Stock Position in Teck Resources Limited (NYSE:TECK)

Clarius Group LLC cut its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,228 shares of the basic materials company’s stock after selling 2,139 shares during the quarter. Clarius Group LLC’s holdings in Teck Resources were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TECK. Hexagon Capital Partners LLC increased its holdings in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC purchased a new position in Teck Resources during the fourth quarter valued at approximately $35,000. Headlands Technologies LLC purchased a new position in Teck Resources during the second quarter valued at approximately $38,000. Bruce G. Allen Investments LLC increased its holdings in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares during the period. Finally, Blue Trust Inc. increased its holdings in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of TECK stock opened at $51.21 on Friday. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 25.10 and a beta of 1.02. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $55.13. The stock has a 50-day moving average price of $48.04 and a 200 day moving average price of $48.48. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Research analysts expect that Teck Resources Limited will post 2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TECK shares. Eight Capital downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. CIBC upped their price target on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Teck Resources Profile

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.