Janney Montgomery Scott LLC Has $2.65 Million Holdings in Teck Resources Limited (NYSE:TECK)

Janney Montgomery Scott LLC cut its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,686 shares of the basic materials company’s stock after selling 615 shares during the period. Janney Montgomery Scott LLC’s holdings in Teck Resources were worth $2,648,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Daymark Wealth Partners LLC grew its stake in shares of Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares during the period. Cigna Investments Inc. New grew its stake in Teck Resources by 3.8% in the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 317 shares during the period. Candriam S.C.A. grew its stake in Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 343 shares during the period. Evergreen Capital Management LLC grew its stake in Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

TECK opened at $47.59 on Tuesday. Teck Resources Limited has a 52-week low of $34.56 and a 52-week high of $55.13. The firm has a market capitalization of $24.09 billion, a PE ratio of 72.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The business’s 50-day simple moving average is $48.66 and its 200 day simple moving average is $48.78.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. Teck Resources’s revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Teck Resources Limited will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TECK. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

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.