Teck Resources Limited (NYSE:TECK) Short Interest Update

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 7,990,000 shares, a growth of 17.0% from the January 15th total of 6,830,000 shares. Based on an average trading volume of 2,690,000 shares, the short-interest ratio is presently 3.0 days. Approximately 1.6% of the shares of the company are short sold.

Teck Resources Price Performance

TECK stock traded down $0.74 during trading on Monday, hitting $43.12. The company had a trading volume of 2,432,855 shares, compared to its average volume of 2,856,734. The company has a fifty day moving average price of $42.23 and a two-hundred day moving average price of $45.82. 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 company has a market cap of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02. Teck Resources has a fifty-two week low of $37.30 and a fifty-two week high of $55.13.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $65.38.

Institutional Trading of Teck Resources

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in Teck Resources in the 2nd quarter valued at $213,000. AMF Tjanstepension AB raised its position in Teck Resources by 3.9% in the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after purchasing an additional 169,476 shares during the last quarter. Ritholtz Wealth Management bought a new position in Teck Resources in the 3rd quarter valued at $304,000. Creative Planning raised its position in Teck Resources by 14.3% in the 3rd quarter. Creative Planning now owns 43,224 shares of the basic materials company’s stock valued at $2,258,000 after purchasing an additional 5,403 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in Teck Resources by 57.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 81,103 shares of the basic materials company’s stock valued at $4,236,000 after purchasing an additional 29,600 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.