MML Investors Services LLC Has $417,000 Position in Teck Resources Limited (NYSE:TECK)

MML Investors Services LLC cut its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,982 shares of the basic materials company’s stock after selling 938 shares during the period. MML Investors Services LLC’s holdings in Teck Resources were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TECK. Headlands Technologies LLC acquired a new stake in Teck Resources during the 2nd quarter worth $38,000. Eastern Bank bought a new stake in shares of Teck Resources in the third quarter worth about $39,000. Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Teck Resources in the 2nd quarter valued at approximately $67,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

NYSE:TECK opened at $41.25 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $46.48 and a 200 day simple moving average of $47.51. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The stock has a market capitalization of $21.13 billion, a PE ratio of 62.50 and a beta of 1.03.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $0.57 EPS. Teck Resources’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, research analysts expect that Teck Resources Limited will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.87%. Teck Resources’s dividend payout ratio is 56.06%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Friday, October 25th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Scotiabank upped their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.29.

About Teck Resources

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.