Nisa Investment Advisors LLC Has $167,000 Holdings in Teck Resources Limited (NYSE:TECK)

Nisa Investment Advisors LLC boosted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1,291.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,200 shares of the basic materials company’s stock after purchasing an additional 2,970 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Teck Resources were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. AMF Tjanstepension AB grew its holdings in shares of Teck Resources by 846.6% during the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock worth $210,034,000 after purchasing an additional 3,919,984 shares in the last quarter. Asia Research & Capital Management Ltd bought a new position in Teck Resources in the 1st quarter valued at about $158,976,000. Castle Hook Partners LP acquired a new position in shares of Teck Resources in the 1st quarter valued at approximately $90,980,000. TD Asset Management Inc lifted its holdings in shares of Teck Resources by 49.0% during the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock worth $237,202,000 after acquiring an additional 1,629,149 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Teck Resources by 48.4% during the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company’s stock worth $188,111,000 after acquiring an additional 1,283,876 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.6 %

TECK opened at $49.09 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The company’s 50 day moving average price is $48.57 and its two-hundred day moving average price is $48.71. The firm has a market capitalization of $24.85 billion, a price-to-earnings ratio of 74.38 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, research analysts predict that Teck Resources Limited will post 1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

TECK has been the subject of several research analyst reports. Eight Capital downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.