Gideon Capital Advisors Inc. bought a new position in shares of Teck Resources Ltd (NYSE:TCK) (TSE:TCK.B) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,661 shares of the company’s stock, valued at approximately $715,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Teck Resources by 17.3% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 4,318,117 shares of the company’s stock worth $73,451,000 after buying an additional 638,200 shares during the period. Airain ltd acquired a new position in shares of Teck Resources during the second quarter worth $831,000. Ameriprise Financial Inc. acquired a new position in shares of Teck Resources during the second quarter worth $1,090,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Teck Resources during the second quarter worth $30,504,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Teck Resources by 128.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,695,700 shares of the company’s stock worth $22,332,000 after buying an additional 951,965 shares during the period. 45.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Teck Resources Ltd (NYSE:TCK) remained flat at $25.36 during midday trading on Tuesday. Teck Resources Ltd has a 12 month low of $2.56 and a 12 month high of $26.60. The company has a 50 day moving average of $22.41 and a 200-day moving average of $16.57.
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A number of equities research analysts have recently issued reports on the company. Scotiabank restated a “sector perform” rating and set a $34.00 price objective (up previously from $29.00) on shares of Teck Resources in a report on Saturday, November 26th. Citigroup Inc. upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, December 6th. RBC Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of Teck Resources in a research note on Wednesday, December 14th. Dundee Securities reiterated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Teck Resources in a report on Thursday, December 15th. Finally, Macquarie upgraded shares of Teck Resources from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 20th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.23.
About Teck Resources
Teck Resources Ltd is a Canada-based company, engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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