Entropy Technologies LP Purchases New Stake in Teck Resources Limited (NYSE:TECK)

Entropy Technologies LP purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,094 shares of the basic materials company’s stock, valued at approximately $288,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC bought a new position in Teck Resources in the fourth quarter valued at about $27,000. Eastern Bank bought a new position in Teck Resources in the third quarter valued at about $39,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the third quarter valued at about $40,000. R Squared Ltd bought a new position in Teck Resources in the fourth quarter valued at about $117,000. Finally, Blue Trust Inc. grew its position in Teck Resources by 178.2% in the third quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,875 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock opened at $43.85 on Friday. The stock’s 50 day moving average is $42.30 and its 200 day moving average is $45.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market cap of $21.87 billion, a P/E ratio of 66.43 and a beta of 1.02. Teck Resources Limited has a one year low of $36.93 and a one year high of $55.13.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Raymond James decreased their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Finally, National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Company 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.