Amundi Asset Management US, Inc. has recently announced that it has increased stake in Teck Resources Ltd (NYSE:TECK) by 19.38%. After grabbing 11.7 million shares, the institutional investor is now in possession of 1.9 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.29% having worth around $440.46 million. Moreover, The Vanguard Group, Inc. increased its share by 0.12 million to have a control over 10.76 million shares. And Boston Partners Global Investors, raised its holdings to 1.6 million shares by acquiring 8.45 million shares or 1.65% of the stake.
Teck Resources Ltd (TECK) concluded trading on 12/28/23 at a closing price of $42.62, with 2.54 million shares of worth about $108.21 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.15% during that period and on Thursday the price saw a loss of about -0.19%. Currently the company’s common shares owned by public are about 519.80M shares, out of which, 506.05M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the TECK stock and their offered price forecasts bring an average price target of $64.38. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $70.00 and could fall to a lowest price of $56.00. The stock’s current price level is 9.59% above of average price target set by the analysts, while a rise to estimated low would result in gain of 23.89% for the stock. However, touching the estimated high of $70.00 would mean a gain of 39.11% for the stock.
Dodge & Cox International Stock F, Government Pension Fund – Global, and Vanguard Total International Stoc are the top 3 mutual funds which are holding stakes in Teck Resources Ltd Dodge & Cox International Stock F is currently holding 14.16 million shares of worth totaling $533.15 million. The company recently came buying 0.0 shares which brought its stake up to 2.77% of the company’s outstanding shares. Government Pension Fund – Global bought 3.26 million shares, after which its hold over company’s outstanding shares expand to 1.48%, leaving 7.59 million shares with the mutual fund that have a worth of about $285.7 million. Vanguard Total International Stoc, after buying 6.07 million shares, have now control over 1.19% of the stake in the company. It holds 50764.0 shares of worth $228.57 million.
Teck Resources Ltd (NYSE: TECK) started trading at $42.49, below -$0.21 from concluding price of the previous day. Stock saw a price change of 2.95% in past 5 days and over the past one month there was a price change of 16.00%. Year-to-date (YTD), TECK shares are showing a performance of 13.84% which increased to 9.39% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.48 but also hit the highest price of $49.34 during that period. The average intraday trading volume for Teck Resources Ltd shares is 3.70 million. The stock is currently trading 7.48% above its 20-day simple moving average (SMA20), while that difference is up 12.72% for SMA50 and it goes to 5.21% higher than SMA200.
Amundi Asset Management US, Inc. acquired 11.7 million shares of Teck Resources Ltd having value of about $440.46 million. Data submitted at the U.S SEC by Amundi Asset Management US, Inc. revealed that the firm now holds 1.9 million shares in the company valued at close to $80929754.16, or have control over 19.38% stake in the company. Teck Resources Ltd (NYSE: TECK) currently have 519.80M outstanding shares and institutions hold larger chunk of about 75.09% of that. Holding of mutual funds in the company is about 38.17% while other institutional holders and individual stake holders have control over 38.49% and — of the stake respectively.
The stock has a current market capitalization of $22.15B and its 3Y-monthly beta is at 1.17. PE ratio of stock for trailing 12 months is 13.69, while it has posted earnings per share of $3.11 in the same period. It has Quick Ratio of 0.68 while making debt-to-equity ratio of 0.40. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TECK, volatility over the week remained 1.59% while standing at 2.56% over the month.
Analysts are in expectations that Teck Resources Ltd (TECK) stock would likely to be making an EPS of $1.05 in the current quarter, while forecast for next quarter EPS is $1.24 and it is $4.62 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $1.36 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.79 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -43.10% while it is estimated to increase by 14.50% in next year.
Analysts at 17 brokerage firms have issued recommendations for the Teck Resources Ltd (TECK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.18. Out of those 17 Wall Street analysts, 15 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
