Fmr LLC Acquires New Position in Teck Resources Ltd (TECK)

Fmr LLC acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 510,832 shares of the basic materials company’s stock, valued at approximately $8,855,000. Fmr LLC owned about 0.09% of Teck Resources at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. American Century Companies Inc. bought a new position in shares of Teck Resources during the second quarter valued at about $6,823,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Teck Resources during the second quarter worth about $623,000. Andra AP fonden purchased a new stake in shares of Teck Resources during the second quarter worth about $3,610,000. Great West Life Assurance Co. Can purchased a new stake in shares of Teck Resources during the second quarter worth about $57,911,000. Finally, Letko Brosseau & Associates Inc. purchased a new stake in shares of Teck Resources during the second quarter worth about $237,787,000. 47.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Teck Resources Ltd (NYSE TECK) opened at 20.44 on Wednesday. The firm has a 50-day moving average of $22.02 and a 200 day moving average of $20.56. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 7.03 and a beta of 1.20. Teck Resources Ltd has a one year low of $14.56 and a one year high of $33.76.

A number of research firms have recently weighed in on TECK. ValuEngine lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. MKM Partners reiterated a “buy” rating and set a $30.00 target price on shares of Teck Resources in a report on Wednesday, September 20th. BMO Capital Markets increased their target price on shares of Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Deutsche Bank AG reiterated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. Finally, Berenberg Bank reiterated a “buy” rating and set a $27.50 target price on shares of Teck Resources in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.12.

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Teck Resources Profile

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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