Jackson Square Capital LLC Purchases New Holdings in Teck Resources Limited (NYSE:TECK)

Jackson Square Capital LLC acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 31,778 shares of the basic materials company’s stock, valued at approximately $1,660,000.

A number of other institutional investors have also recently bought and sold shares of TECK. AMF Tjanstepension AB raised its holdings in shares of Teck Resources by 846.6% in 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 during the period. Asia Research & Capital Management Ltd purchased a new position in shares of Teck Resources during the 1st quarter valued at $158,976,000. Castle Hook Partners LP purchased a new position in shares of Teck Resources during the 1st quarter valued at $90,980,000. TD Asset Management Inc grew its stake 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 increased its holdings in Teck Resources by 48.4% in 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 last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating for the company. Scotiabank lifted their price objective 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. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. 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 report on Friday, October 25th. Finally, StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Stock Performance

Shares of TECK opened at $49.09 on Thursday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $48.57 and a 200-day moving average price of $48.71. The company has a market cap of $24.85 billion, a PE ratio of 74.38 and a beta of 1.04. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during 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%. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. As a group, equities analysts forecast that Teck Resources Limited will post 1.91 earnings per share for the current fiscal year.

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.