Teck Resources Ltd $TECK Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 22.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,657 shares of the basic materials company’s stock after selling 27,522 shares during the quarter. Federated Hermes Inc.’s holdings in Teck Resources were worth $4,242,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TECK. Versant Capital Management Inc purchased a new stake in Teck Resources in the 3rd quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teck Resources in the second quarter valued at about $49,000. Tobam purchased a new stake in shares of Teck Resources in the second quarter valued at about $62,000. CWM LLC boosted its stake in shares of Teck Resources by 22.7% during the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after buying an additional 384 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Teck Resources by 38.7% during the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock worth $132,000 after buying an additional 910 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on TECK shares. Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. TD Securities lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Teck Resources Stock Performance

NYSE:TECK opened at $59.20 on Wednesday. The firm’s fifty day simple moving average is $48.38 and its 200-day simple moving average is $42.02. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The stock has a market cap of $28.47 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $60.71.

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.