Teck Resources (TCK -2.2%) is downgraded at Canaccord Genuity after the firm cut its coking coal...


Teck Resources (TCK -2.2%) is downgraded at Canaccord Genuity after the firm cut its coking coal price and volume forecasts for the miner due to weak market conditions. The firm cuts its Q4 benchmark price to $170/metric ton from $220, and “if spot prices remain at current levels or slip further, the Q1 2013 benchmark settlement is likely to also move lower."

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  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    Perhaps, but I'd be likely to go long more shares if there is any further significant downside to the name. Long via Jan'13 short puts.
    17 Sep 2012, 04:55 PM Reply Like
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