Short Interest in Teck Resources Limited (NYSE:TECK) Rises By 17.0%

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 7,990,000 shares, an increase of 17.0% from the January 15th total of 6,830,000 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,690,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECK. PNC Financial Services Group Inc. lifted its stake in shares of Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company’s stock valued at $471,000 after buying an additional 243 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Teck Resources by 2.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock valued at $398,000 after buying an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 297 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 327 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TECK. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Down 1.7 %

NYSE TECK traded down $0.74 on Monday, reaching $43.12. The company had a trading volume of 2,432,855 shares, compared to its average volume of 2,856,734. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02. The company’s fifty day moving average is $42.23 and its 200 day moving average is $45.82. Teck Resources has a 52-week low of $37.30 and a 52-week high of $55.13.

About Teck Resources

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.