Meixler Investment Management Ltd. Cuts Stock Position in Teck Resources Limited (NYSE:TECK)

Meixler Investment Management Ltd. cut its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,181 shares of the basic materials company’s stock after selling 1,767 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Teck Resources were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Principal Securities Inc. lifted its position in Teck Resources by 49.9% in the fourth quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company’s stock worth $116,000 after buying an additional 952 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Teck Resources by 8.4% in the fourth quarter. Vontobel Holding Ltd. now owns 87,903 shares of the basic materials company’s stock worth $3,559,000 after buying an additional 6,800 shares during the last quarter. Louisbourg Investments Inc. lifted its position in Teck Resources by 2.6% in the fourth quarter. Louisbourg Investments Inc. now owns 131,746 shares of the basic materials company’s stock worth $5,339,000 after buying an additional 3,278 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Teck Resources in the fourth quarter worth $25,000. Finally, Savant Capital LLC lifted its position in Teck Resources by 32.3% in the fourth quarter. Savant Capital LLC now owns 9,415 shares of the basic materials company’s stock worth $382,000 after buying an additional 2,301 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

TECK stock opened at $43.12 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a 50-day moving average price of $42.23 and a 200 day moving average price of $45.84. The company has a market capitalization of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02. Teck Resources Limited has a 1-year low of $37.30 and a 1-year high of $55.13.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TECK shares. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

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.