Barings LLC Has $7.69 Million Holdings in Teck Resources Ltd (TECK)
Barings LLC lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 293,700 shares of the basic materials company’s stock after selling 179,200 shares during the quarter. Barings LLC’s holdings in Teck Resources were worth $7,686,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of TECK. Bartlett & Co. LLC bought a new position in Teck Resources in the 4th quarter worth about $118,000. PNC Financial Services Group Inc. bought a new position in Teck Resources in the 2nd quarter worth about $124,000. C M Bidwell & Associates Ltd. bought a new position in Teck Resources in the 4th quarter worth about $199,000. Private Advisor Group LLC bought a new position in Teck Resources in the 3rd quarter worth about $200,000. Finally, Shelton Capital Management bought a new position in Teck Resources in the 2nd quarter worth about $202,000. Institutional investors and hedge funds own 52.93% of the company’s stock.
TECK has been the subject of a number of research analyst reports. Scotiabank upgraded Teck Resources from an “outperform” rating to a “focus list” rating in a research report on Monday, January 8th. ValuEngine upgraded Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Clarkson Capital downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, January 15th. Finally, Citigroup downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.94.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.06). The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a net margin of 19.72% and a return on equity of 15.16%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. research analysts anticipate that Teck Resources Ltd will post 3.56 earnings per share for the current year.
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Teck Resources Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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