Sequoia Financial Advisors LLC Trims Stock Holdings in Teck Resources Limited (NYSE:TECK)

Sequoia Financial Advisors LLC lessened its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 2.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,530 shares of the basic materials company’s stock after selling 285 shares during the period. Sequoia Financial Advisors LLC’s holdings in Teck Resources were worth $498,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its stake in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Teck Resources in the second quarter worth $38,000. Bruce G. Allen Investments LLC raised its position 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 purchasing an additional 383 shares during the last quarter. Blue Trust Inc. raised its position in shares of Teck Resources by 583.1% in 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 last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 1.2 %

Shares of Teck Resources stock opened at $47.35 on Monday. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $48.73 and a 200-day moving average price of $48.72. The firm has a market cap of $24.19 billion, a price-to-earnings ratio of 20.95 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TECK. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. cut their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday. Finally, CIBC upped their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources 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.