ABN Amro Investment Solutions Acquires 29,649 Shares of Teck Resources Ltd $TECK

ABN Amro Investment Solutions raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,295 shares of the basic materials company’s stock after acquiring an additional 29,649 shares during the quarter. ABN Amro Investment Solutions’ holdings in Teck Resources were worth $8,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TECK. ASR Vermogensbeheer N.V. boosted its position in shares of Teck Resources by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 270 shares in the last quarter. Stephens Inc. AR boosted its position in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock valued at $290,000 after purchasing an additional 329 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the last quarter. CWM LLC raised its holdings in shares of Teck Resources by 22.7% in the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after purchasing an additional 384 shares during the period. Finally, Assetmark Inc. raised its stake in Teck Resources by 2.1% in the second quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock valued at $822,000 after buying an additional 415 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 0.7%

TECK opened at $58.97 on Friday. The company has a market cap of $28.39 billion, a P/E ratio of 33.13, a PEG ratio of 0.55 and a beta of 0.80. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $50.57 and its 200-day moving average is $43.18. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $60.75.

Analyst Ratings Changes

TECK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price target on shares of Teck Resources in a research report on Wednesday, November 26th. Natl Bk Canada downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.33.

Teck Resources Company Profile

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.