Ruffer LLP Invests $22.06 Million in Teck Resources Ltd $TECK

Ruffer LLP bought a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 502,602 shares of the basic materials company’s stock, valued at approximately $22,059,000. Teck Resources comprises 1.2% of Ruffer LLP’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 3,458 shares during the period. Jones Financial Companies Lllp increased its position in Teck Resources by 453.0% in the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after purchasing an additional 8,146 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Teck Resources during the 2nd quarter valued at about $245,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Teck Resources by 351.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,654 shares of the basic materials company’s stock valued at $188,000 after buying an additional 3,624 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $56.91 on Thursday. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $57.14. The company has a market cap of $27.36 billion, a P/E ratio of 31.97, a P/E/G ratio of 0.60 and a beta of 0.79. The business’s 50 day moving average is $47.09 and its two-hundred day moving average is $41.46. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Teck Resources in a research report on Tuesday. Citigroup reiterated a “neutral” rating on shares of Teck Resources in a report on Thursday, January 15th. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. Canaccord Genuity Group cut Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Hold” and a consensus target price of $53.33.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.