15:54:44 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Teck Resources Ltd
Symbol TCK
Shares Issued 566,921,357
Close 2014-04-17 C$ 24.31
Market Cap C$ 13,781,858,189
Recent Sedar Documents

Globe says Teck to release weak Q1 financials

2014-04-21 07:51 ET - In the News

The Globe and Mail reports in its Monday edition against a bleak commodity backdrop, Teck Resources is expected to post weak profit when it releases its first-quarter financial results Tuesday. The Globe's Brent Jang writes industry analysts forecast Teck will post per-share profit of 29 cents for the first three months of this year, or half of the 58 cents in earnings per share in the first quarter of 2013. Lower commodity prices and volumes have combined with slightly higher expenses to erode Teck's quarterly results, said RBC Dominion Securities analyst Fraser Phillips. While the downward pricing trend continues for coal and copper, there are signs that zinc might be staging a recovery. Still, Teck's zinc performance is expected to be down on reduced sales volume in this year's first quarter, Mr. Phillips said. In British Columbia, Teck has been hoping for a rebound in prices for metallurgical coal, but the world is awash in coal supplies, said Raymond James analyst Alex Terentiew. "We believe Teck may need to use its undrawn $2-billion credit facilities by late 2015 to retain a comfortable cash cushion and continue paying its dividend," he wrote. Teck pays an annual dividend of 90 cents.

© 2024 Canjex Publishing Ltd. All rights reserved.