Dodge & Cox recently announced the acquisition of new stake in Teck Resources Limited (NYSE:TECK). This fresh investment now brings its stake to 1.89% valued currently at $100.09 million. In addition, Arrowstreet Capital LP raised its holdings by 43392.0 to 9.15 million shares. And 1832 Asset Management LP has lifted its position by 8.51% or 0.59 million shares – to 7.58 million shares.
With over 2.42 million Teck Resources Limited (TECK) shares trading Tuesday and a closing price of $11.90 on the day, the dollar volume was approximately $28.82 million. The shares have shown a positive weekly performance of 6.63% and its price on 09/01/20 gained nearly 3.30%. Currently, there are 531.00M common shares owned by the public and among those 523.41M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for TECK have a consensus price objective of $16.07. The analysts have set the share’s price value over the next 12 months at a high of $24.63 and a low of $11.97 should the stock experience a downside. Incidentally, analysts’ outlook for the Teck Resources Limited stock is 2.20 for the next 12 months. But an upside of 51.68% will see the stock hit the forecast high price target while mean target price for the stock is $15.53.
The top 3 mutual fund holders in Teck Resources Limited are Dodge & Cox Funds – International, American Funds EuroPacific Growth, and Vanguard Total International Stoc. Dodge & Cox Funds – International owns 9.73 million shares of the company’s stock, all valued at over $98.53 million. The company bought an additional 9.73 million shares recently to bring their total holdings to about 1.86% of the shares outstanding. American Funds EuroPacific Growth sold -2.63 million shares to see its total holdings shrink to 9.07 million shares valued at over $91.85 million and representing 1.73% of the shares outstanding. Vanguard Total International Stoc sold 79102.0 shares to bring its total holdings to over 7.84 million shares at a value of $79.44 million. Vanguard Total International Stoc now owns shares totaling to 1.50% of the shares outstanding.
Shares of Teck Resources Limited (NYSE: TECK) opened at $11.66, up $0.14 from a prior closing price of $11.52. However, the script later closed the day at $11.90, up 3.30%. The company’s stock has a 5-day price change of 6.63% and 10.70% over the past three months. TECK shares are trading -31.49% year to date (YTD), with the 12-month market performance down to -29.29% lower. It has a 12-month low price of $5.60 and touched a high of $19.44 over the same period. Currently, 2.42 million shares have been traded, compared to an average intraday trading volume of 3.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.64%, 7.92%, and 2.38% respectively.
Institutional ownership of Teck Resources Limited (NYSE: TECK) shares accounts for 64.30% of the company’s 531.00M shares outstanding. Mutual fund holders own 28.47%, while other institutional holders and individual stakeholders account for 33.71% and — respectively.
It has a market capitalization of $6.10B and a beta (3y monthly) value of 1.54. The earnings-per-share (ttm) stands at -$2.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.72% over the week and 3.85% over the month.
Analysts forecast that Teck Resources Limited (TECK) will achieve an EPS of $1.09 for the current quarter, $0.82 for the next quarter and $2.83 for 2019. The lowest estimate earnings-per-share for the quarter is $0.91 while analysts give the company a high EPS estimate of $1.54. Comparatively, EPS for the current quarter was $0.91 a year ago. Earnings per share for the fiscal year are expected to decrease by -120.20%, and 132.56% over the next financial year. EPS should grow at an annualized rate of -13.62% over the next five years, compared to -30.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Teck Resources Limited (TECK) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 5 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TECK, a number of firms have released research notes about the stock. National Bank Financial stated their Sector Perform rating for the stock in a research note on July 21, 2020, with the firm’s price target at. Citigroup coverage for the Teck Resources Limited (TECK) stock in a research note released on April 22, 2020 offered a Neutral rating with a price target of. The Benchmark Company was of a view on March 02, 2020 that the stock is Buy, while BofA/Merrill gave the stock Neutral rating on February 24, 2020, issuing a price target of. Citigroup on their part issued Buy rating on December 16, 2019.