On April 6, 2023 at 10:06:48 ET an unusually large $217.50K block of Call contracts in Teck Resources (TECK) was sold, with a strike price of $40.00 / share, expiring in 22 days (on April 28, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.09 sigmas above the mean, placing it in the 86.93 percentile of all recent large trades made in TECK options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 60.12% Upside

As of April 6, 2023, the average one-year price target for Teck Resources is $67.62. The forecasts range from a low of $57.68 to a high of $75.60. The average price target represents an increase of 60.12% from its latest reported closing price of $42.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Teck Resources is $16,133MM. The projected annual non-GAAP EPS is $6.08.

What is the Fund Sentiment?

There are 666 funds or institutions reporting positions in Teck Resources. This is an increase of 25 owner(s) or 3.90% in the last quarter. Average portfolio weight of all funds dedicated to TECK is 0.65%, an increase of 25.65%. Total shares owned by institutions increased in the last three months by 4.35% to 356,830K shares. The put/call ratio of TECK is 0.68, indicating a bullish outlook.

What are Large Shareholders Doing?

Dodge & Cox holds 27,074K shares representing 5.27% ownership of the company. In it’s prior filing, the firm reported owning 26,715K shares, representing an increase of 1.33%. The firm increased its portfolio allocation in TECK by 14.07% over the last quarter.

Royal Bank Of Canada holds 19,991K shares representing 3.89% ownership of the company. In it’s prior filing, the firm reported owning 19,766K shares, representing an increase of 1.12%. The firm increased its portfolio allocation in TECK by 14.58% over the last quarter.

DODFX – Dodge & Cox International Stock Fund holds 19,441K shares representing 3.78% ownership of the company. No change in the last quarter.

Davis Selected Advisers holds 13,009K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 12,755K shares, representing an increase of 1.95%. The firm increased its portfolio allocation in TECK by 21.22% over the last quarter.

Egerton Capital LLP holds 11,396K shares representing 2.22% ownership of the company. In it’s prior filing, the firm reported owning 11,983K shares, representing a decrease of 5.15%. The firm increased its portfolio allocation in TECK by 31.07% over the last quarter.

Teck Resources Background Information
(This description is provided by the company.)

Headquartered in Vancouver, Canada, Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, zinc and steelmaking coal, as well as investments in energy assets.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.