Truist Financial Corp Sells 11,770 Shares of Teck Resources Ltd $TECK

Truist Financial Corp cut its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 38.7% during the 3rd quarter, Holdings Channel reports. The fund owned 18,680 shares of the basic materials company’s stock after selling 11,770 shares during the period. Truist Financial Corp’s holdings in Teck Resources were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Teck Resources by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Teck Resources by 453.0% during the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after buying an additional 8,146 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Teck Resources by 16.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,091 shares of the basic materials company’s stock worth $1,215,000 after buying an additional 4,259 shares during the period. Finally, Yousif Capital Management LLC raised its stake in shares of Teck Resources by 8.8% in the second quarter. Yousif Capital Management LLC now owns 6,129 shares of the basic materials company’s stock worth $247,000 after buying an additional 495 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $58.40 on Wednesday. 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 has a market capitalization of $28.08 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. The company’s fifty day moving average price is $49.70 and its 200-day moving average price is $42.70. Teck Resources Ltd has a one year low of $28.32 and a one year high of $60.71.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TECK. Natl Bk Canada downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Benchmark restated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock 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.