Teck Resources Limited (NYSE:TECK) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its holdings in Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,591 shares of the basic materials company’s stock after acquiring an additional 1,739 shares during the period. MML Investors Services LLC’s holdings in Teck Resources were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TECK. FMR LLC raised its holdings in Teck Resources by 594.7% in the 2nd quarter. FMR LLC now owns 9,630,011 shares of the basic materials company’s stock valued at $294,466,000 after acquiring an additional 8,243,806 shares during the last quarter. Egerton Capital UK LLP grew its stake in shares of Teck Resources by 274.3% during the 2nd quarter. Egerton Capital UK LLP now owns 10,301,465 shares of the basic materials company’s stock valued at $314,916,000 after buying an additional 7,549,057 shares during the period. Cowa LLC grew its stake in shares of Teck Resources by 9,975.4% during the 1st quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock valued at $811,000 after buying an additional 1,988,996 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Teck Resources by 100.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,800,618 shares of the basic materials company’s stock valued at $116,058,000 after buying an additional 1,900,718 shares during the period. Finally, Davis Selected Advisers grew its stake in shares of Teck Resources by 16.9% during the 3rd quarter. Davis Selected Advisers now owns 12,754,780 shares of the basic materials company’s stock valued at $387,873,000 after buying an additional 1,845,166 shares during the period. 56.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TECK. Royal Bank of Canada boosted their price objective on shares of Teck Resources from C$64.00 to C$72.00 in a research note on Wednesday, February 22nd. Citigroup upped their price target on shares of Teck Resources from C$45.00 to C$55.00 in a research report on Wednesday, January 11th. TD Securities upped their price target on shares of Teck Resources from C$67.00 to C$71.00 in a research report on Thursday, February 23rd. BMO Capital Markets decreased their price target on shares of Teck Resources from C$48.00 to C$45.00 in a research report on Tuesday, January 31st. Finally, StockNews.com cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.88.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $39.21 on Thursday. The firm has a market cap of $19.85 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The firm’s 50-day simple moving average is $41.12 and its 200-day simple moving average is $36.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 1.41. Teck Resources Limited has a 1 year low of $24.72 and a 1 year high of $46.90.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $0.094 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, March 14th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 7.74%.

About Teck Resources

(Get Rating)

Teck Resources Limited is a resource company, which engages in mining and development of mineral properties. It organized into business units focused on steelmaking coal, copper, zinc, and energy. The firm also offers lead, silver, molybdenum and various specialty and other metals, chemicals and fertilizers.