Commerzbank Aktiengesellschaft FI increased its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 74.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 153,322 shares of the basic materials company’s stock after buying an additional 65,519 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Teck Resources were worth $3,234,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. bought a new stake in Teck Resources in the 2nd quarter valued at about $237,787,000. Impala Asset Management LLC bought a new stake in Teck Resources in the 2nd quarter valued at about $217,614,000. Capital Research Global Investors bought a new stake in Teck Resources in the 2nd quarter valued at about $187,626,000. Vanguard Group Inc. bought a new stake in Teck Resources in the 2nd quarter valued at about $182,655,000. Finally, TD Asset Management Inc. boosted its holdings in Teck Resources by 7.4% in the 3rd quarter. TD Asset Management Inc. now owns 9,073,233 shares of the basic materials company’s stock valued at $190,584,000 after purchasing an additional 627,705 shares during the period. 54.26% of the stock is owned by institutional investors and hedge funds.
Shares of Teck Resources Ltd (NYSE:TECK) traded down $0.83 during trading on Tuesday, hitting $22.70. 4,084,037 shares of the stock were exchanged, compared to its average volume of 5,040,775. Teck Resources Ltd has a 12 month low of $14.56 and a 12 month high of $33.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. The company has a market cap of $13,298.35, a P/E ratio of 6.33, a PEG ratio of 0.85 and a beta of 1.31.
TECK has been the subject of a number of recent research reports. MKM Partners reissued a “buy” rating and issued a $40.00 price objective on shares of Teck Resources in a report on Tuesday, September 12th. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, October 5th. Finally, CIBC initiated coverage on shares of Teck Resources in a report on Friday, November 17th. They issued a “sector outperform” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the stock. Teck Resources currently has an average rating of “Buy” and an average target price of $30.65.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/12/05/teck-resources-ltd-teck-shares-bought-by-commerzbank-aktiengesellschaft-fi.html.
About Teck Resources
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.
What are top analysts saying about Teck Resources Ltd? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Teck Resources Ltd and related companies.