Bartlett & CO. Wealth Management LLC Reduces Stake in Teck Resources Limited (NYSE:TECK)

Bartlett & CO. Wealth Management LLC cut its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,519 shares of the basic materials company’s stock after selling 5,100 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Teck Resources were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Hexagon Capital Partners LLC raised its holdings in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Teck Resources in the second quarter valued at $38,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.1 %

NYSE:TECK opened at $50.44 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The company has a 50-day moving average of $48.61 and a 200 day moving average of $48.69. The firm has a market cap of $25.53 billion, a PE ratio of 24.73 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.32. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, research analysts anticipate that Teck Resources Limited will post 1.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on TECK shares. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Scotiabank boosted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Finally, TD Securities raised shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.43.

About Teck Resources

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.