Teck Resources Ltd (NYSE:TECK) Short Interest Update

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 11,450,000 shares, an increase of 7.1% from the August 30th total of 10,690,000 shares. Based on an average daily trading volume, of 2,730,000 shares, the short-interest ratio is presently 4.2 days. Approximately 2.1% of the shares of the stock are short sold.

A number of institutional investors and hedge funds have recently made changes to their positions in TECK. JPMorgan Chase & Co. boosted its position in Teck Resources by 207.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,354,771 shares of the basic materials company’s stock valued at $76,555,000 after buying an additional 2,265,350 shares during the period. BlackRock Inc. boosted its position in Teck Resources by 28.8% during the 2nd quarter. BlackRock Inc. now owns 4,549,382 shares of the basic materials company’s stock valued at $104,909,000 after buying an additional 1,016,448 shares during the period. National Pension Service purchased a new stake in Teck Resources during the 2nd quarter valued at $25,950,000. Renaissance Technologies LLC boosted its position in Teck Resources by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,019,800 shares of the basic materials company’s stock valued at $69,639,000 after buying an additional 712,400 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Teck Resources by 117.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,306,731 shares of the basic materials company’s stock valued at $30,134,000 after buying an additional 705,963 shares during the period. 53.65% of the stock is owned by institutional investors and hedge funds.

Shares of Teck Resources stock traded up $0.23 during trading on Wednesday, reaching $16.38. The company’s stock had a trading volume of 1,441,607 shares, compared to its average volume of 3,229,414. Teck Resources has a 52-week low of $14.51 and a 52-week high of $25.75. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 5.21 and a beta of 1.42. The firm’s 50-day moving average is $16.89 and its two-hundred day moving average is $20.30. The company has a quick ratio of 1.58, a current ratio of 2.47 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $1.12 EPS. On average, equities research analysts anticipate that Teck Resources will post 2.54 EPS for the current year.

The company also recently declared a — dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.0376 per share. The ex-dividend date was Thursday, September 12th. This represents a yield of 0.9%. Teck Resources’s payout ratio is currently 4.78%.

A number of brokerages have recently issued reports on TECK. ValuEngine raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Clarkson Capital reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Monday, September 23rd. B. Riley set a $39.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research note on Wednesday, October 9th. Macquarie began coverage on shares of Teck Resources in a research note on Wednesday, July 10th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Teck Resources has a consensus rating of “Buy” and a consensus target price of $30.83.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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