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Teck Resources profit down from year ago
Post opening the session at $8.09, the shares hit an intraday low of $7.82 and an intraday high of $8.12 and the price vacillated in this range throughout the day. The company has a market cap of $4.15 billion and a P/E ratio of 14.90. As per the latest data, 1 analysts has given a sell rating on the shares of the company. The stock was purchased at an average cost of C$13.34 per share, for a total transaction of C$33,350.00. The firm now has a “market perform” rating on the stock.
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VANCOUVER, British Columbia (AP) _ Teck Resources Ltd. (TCK) on Thursday reported second-quarter earnings of $51.3 million.
There are now thirty-one analysts that cover Teck Resources Ltd stock. “However, as a counter to these strengths, we also find weaknesses including poor profit margins, feeble growth in the company’s earnings per share and disappointing return on equity”. Teck Resources’s stock is down -46.65% over the last 200 days. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Teck Resources in a research note on Wednesday, July 15th. The 12-month consensus target price for the stock is $16.1, which reflects an upside potential of 50.05% over the current price. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock.
Teck Resources Limited is engaged in the business of exploring, acquiring, developing and producing natural resources.
Teck has been hurt by weak prices for steelmaking coal, which have slumped on indications of weakening demand from China, the world’s largest steelmaker. Lead, molybdenum, silver and various specialty and other metals, chemicals and fertilizers are also produced at its operations.
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Teck Resources Ltd (USA)(NYSE:TCK) has already offloaded its future gold output at the Carmen de Andacollo copper mine for an upfront payment of $525 million from Royal Gold Inc. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project, Frontier oil sands project in various other oil sands leases in the exploration phase, including the Lease 421 Area.