Principal Financial Group Inc. Sells 79,862 Shares of Teck Resources Limited (NYSE:TECK)

Principal Financial Group Inc. decreased its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,350,119 shares of the basic materials company’s stock after selling 79,862 shares during the quarter. Principal Financial Group Inc. owned about 1.47% of Teck Resources worth $297,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB grew its holdings 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 buying an additional 169,476 shares in the last quarter. Creative Planning lifted its stake 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. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 178.2% during the 3rd quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,875 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Teck Resources by 34.5% during the third quarter. Raymond James & Associates now owns 407,868 shares of the basic materials company’s stock worth $21,307,000 after purchasing an additional 104,573 shares during the last quarter. Finally, OLD National Bancorp IN bought a new stake in Teck Resources during the 3rd quarter worth approximately $241,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

TECK stock opened at $43.12 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company’s 50-day moving average is $42.16 and its 200-day moving average is $45.79. The stock has a market capitalization of $21.51 billion, a PE ratio of 65.34 and a beta of 1.02. Teck Resources Limited has a 1 year low of $37.30 and a 1 year high of $55.13.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TECK shares. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources 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.