Teck Resources Limited (NYSE:TECK) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,764,739 shares of the basic materials company’s stock after purchasing an additional 163,748 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Teck Resources were worth $284,757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wetherby Asset Management Inc. grew its stake in Teck Resources by 0.7% during the first quarter. Wetherby Asset Management Inc. now owns 39,655 shares of the basic materials company’s stock worth $1,447,000 after buying an additional 270 shares during the period. Private Trust Co. NA grew its stake in Teck Resources by 29.9% during the second quarter. Private Trust Co. NA now owns 1,215 shares of the basic materials company’s stock worth $51,000 after buying an additional 280 shares during the period. Optimum Investment Advisors grew its stake in Teck Resources by 60.0% during the second quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock worth $34,000 after buying an additional 300 shares during the period. Synergy Asset Management LLC grew its stake in Teck Resources by 4.3% during the second quarter. Synergy Asset Management LLC now owns 7,562 shares of the basic materials company’s stock worth $318,000 after buying an additional 309 shares during the period. Finally, Intercontinental Wealth Advisors LLC grew its stake in Teck Resources by 1.3% during the first quarter. Intercontinental Wealth Advisors LLC now owns 23,774 shares of the basic materials company’s stock worth $868,000 after buying an additional 312 shares during the period. Institutional investors and hedge funds own 59.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. B. Riley decreased their price objective on shares of Teck Resources from $78.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Wolfe Research upgraded shares of Teck Resources from a “peer perform” rating to an “outperform” rating in a research note on Friday, November 10th. JPMorgan Chase & Co. started coverage on shares of Teck Resources in a research note on Tuesday, October 17th. They issued an “overweight” rating and a $52.00 target price for the company. StockNews.com started coverage on shares of Teck Resources in a research note on Thursday, November 9th. They issued a “hold” rating for the company. Finally, Benchmark restated a “buy” rating and issued a $50.00 target price on shares of Teck Resources in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.91.

Teck Resources Trading Down 2.8 %

NYSE TECK opened at $35.60 on Thursday. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 4.60 and a beta of 1.07. Teck Resources Limited has a 12 month low of $31.42 and a 12 month high of $49.34. The company’s fifty day moving average price is $39.24 and its two-hundred day moving average price is $40.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.20 and a quick ratio of 0.68.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Tuesday, October 24th. The basic materials company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.20). The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.77 billion. Teck Resources had a return on equity of 9.11% and a net margin of 15.78%. As a group, research analysts predict that Teck Resources Limited will post 3.83 earnings per share for the current fiscal year.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.