Teck Resources (TCK -1.1%) is downgraded to Hold from Buy at TD Securities on the prospect of...

|About: Teck Resources Limited (TECK)|By:, SA News Editor

Teck Resources (TCK -1.1%) is downgraded to Hold from Buy at TD Securities on the prospect of lower coking coal prices. The firm takes the Q1 2013 benchmark settlement as a cue to reset its average 2013 benchmark coking coal price forecast to $185/ton from $200, pulling TCK's 2013 projected EPS to $2.52 from $2.80 and EBITDA to $3.7B from $4B.