Iridian Asset Management LLC CT Has $2.68 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Iridian Asset Management LLC CT decreased its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,247 shares of the basic materials company’s stock after selling 4,694 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Teck Resources were worth $2,677,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Avitas Wealth Management LLC lifted its holdings in shares of Teck Resources by 33.2% during the third quarter. Avitas Wealth Management LLC now owns 33,672 shares of the basic materials company’s stock worth $1,759,000 after buying an additional 8,399 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Teck Resources by 1,291.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 2,970 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Teck Resources by 22.1% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 34,200 shares of the basic materials company’s stock worth $1,787,000 after purchasing an additional 6,200 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of Teck Resources by 0.9% in the third quarter. Frank Rimerman Advisors LLC now owns 105,040 shares of the basic materials company’s stock worth $5,487,000 after purchasing an additional 891 shares during the period. Finally, Forsta AP Fonden increased its position in shares of Teck Resources by 18.1% in the third quarter. Forsta AP Fonden now owns 93,200 shares of the basic materials company’s stock worth $4,873,000 after purchasing an additional 14,300 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE:TECK opened at $47.19 on Thursday. The stock has a market cap of $23.88 billion, a P/E ratio of 71.50 and a beta of 1.02. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average is $48.69 and its 200-day moving average is $48.72. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.14% and a net margin of 3.32%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities research analysts anticipate that Teck Resources Limited will post 1.93 earnings per share for the current year.

Analysts Set New Price Targets

TECK has been the topic of a number of recent analyst reports. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 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 research report on Friday, October 25th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. Finally, CIBC lifted their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.