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TCK

Teck Resources Limited

5/21/2013, 7:28 PM ET

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Tuesday, April 23, 9:58 AM Teck Resources (TCK -4.8% reports Q1 EPS of $0.55, a 40% drop Y/Y, due to a 28% drop in coal prices and 5% lower prices for copper. Sales of steelmaking coal rose 24% to 6.6M metric tons, while sales of copper and zinc were little changed from year-earlier levels. Says economic uncertainty may affect prices and shipments. Comment! [Energy, Earnings, On the Move]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
Thursday, April 11, 3:49 PM Deutsche Bank issues a host of upgrades and higher price targets for miners, chiding investors for heading for the hills instead of waiting for expected management-driven turnarounds, asset sales and restructurings. Hecla Mining (HL +2.2%) is raised to Hold from Sell with a $4.60 target (up from $4); targets also are lifted on ABX, CDE, KGC, TC, VALE, CLF, GG, NEM, TCK, SSRI. 5 Comments [Commodities, Quick Ideas, On the Move]
Friday, April 5, 11:29 AM FBR Capital launches coverage of copper producers Freeport McMoRan (FCX), Teck Resources (TCK) and Southern Copper (SCCO) with a cautious near-term outlook, believing copper prices will remain under pressure due to choppy demand, inventory overhang and impending supply growth. Longer term, prices will remain supported above marginal cost and provide incentives for needed supply growth. 2 Comments [Commodities, Quick Ideas]
Monday, March 25, 6:20 PM When word leaked out that Rio Tinto (RIO) wanted to sell its majority stake in Iron Ore Co. of Canada, Teck Resources (TCK) was considered the most logical buyer, but BMO doesn't think a deal will happen due to valuation: Rio "does not need cash from an IOC sale and is unlikely to entertain low bids... Also, Mitsubishi owns 26.2% of IOC and has right of first refusal on the Rio Tinto stake.” 2 Comments [Energy, M&A]
Friday, March 15, 4:40 PM Coal companies continue to flounder, and Cowen analysts think the met coal sector may not see improvement with no near-term positive catalysts on the horizon. Australia's rainy season has left met coal production relatively unscathed, and China's high inventories and weakening steel prices could pressure pricing. Among coals, the firm favors Walter Energy (WLT) for the long term. 30 Comments [Energy, Commodities]
Friday, March 15, 12:45 PM A hunt for acquisitions by Teck Resources (TCK) likely is leading to a bid for Iron Ore Co. of Canada, the country's largest iron ore producer, Bloomberg speculates; Iron Ore Co. is a perfect target for TCK because it exports to Asia, would strengthen TCK’s ties with existing steelmaking customers and help lessen its reliance on coal and copper. 1 Comment [Commodities, M&A]
Monday, March 4, 12:27 PM Investors looking for a rebound in the coal sector this year should forget about companies that mine power-plant coal and turn up the heat on those that produce met coal used in making steel, BMO Capital says in seeing Teck Resources (TCK) as favored to benefit. Walter Energy's (WLT) mines face high shipping costs to get coal to Asia; Peabody (BTU) is better positioned on that front. 6 Comments [Energy, Quick Ideas]
Friday, February 8, 5:33 PM The U.S. Interior Department says it will investigate whether miners and traders skirted royalty payments on lucrative coal exports to Asia. Taxpayers may be losing hundreds of millions of dollars in forgone royalties under current rules governing coal exports. 9 Comments [Energy]
Friday, February 8, 10:47 AM Teck Resources (TCK -2.3%) CEO Don Lindsay said in yesterday's conference call that values have come down and more assets have come available for potential M&A, including projects in the iron ore sector which TCK has been eager to break into for years. TCK has more than $3.2B of cash on its balance sheet, but Lindsay stressed it would do nothing to threaten its investment-grade credit rating. 1 Comment [Energy, On the Move]
Thursday, February 7, 9:07 AM Teck Resources (TCK) reports Q4 EPS of $0.61, down 54% from $1.04 in the year-ago period but ahead of the consensus $0.48 estimate. TCK says it met 2012 production targets for coal, copper and zinc, but realized prices for met coal fell 37%, more than offsetting a 16% rise in coal sales volumes. Maintains a positive long-term outlook for coal, but expects weakness to persist for at least H1 2013. Comment! [Energy, Earnings]
Tuesday, January 29, 12:15 PM A land dispute with Shell (RDS.A) is threatening Teck Resources' (TCK) first stand-alone oil sands project, adding uncertainty to the miner’s push into energy. TCK, which holds a 20% stake in the proposed Fort Hills oil sands mine, already faces the prospect of a delay on that venture as Suncor (SU), the project operator, reviews the profitability of expansion plans. 2 Comments [Energy]
Friday, December 21, 2012, 9:56 AM Teck Resources (TCK -0.6%) says it expects Q4 coal sales to exceed prior guidance of 6.2M metric tons, adding that it doesn’t expect its production for Q1 2013 to be materially affected by the damage to Berth 1 at Westshore Terminals' coal-export terminal on Canada’s west coast. Comment! [Energy]
Wednesday, December 19, 2012, 12:25 PM Reports that China will lift its 40% export tariff on coke coal and semi-coke coal beginning Jan. 1 has U.S. coke exporters on edge, since China has significant excess capacity, according to Nomura. China's coke exports could compound current market dynamics struggling with oversupply and the lowest prices since 2009. the firm foresees. 9 Comments [Energy, Global & FX]
Monday, December 10, 2012, 2:58 PM Coal companies power higher, perhaps attributable to reports that damage at British Columbia's Westshore coal terminal is taking longer to repair than expected. Teck Resources (TCK +2.7%), a top Westshore customer, says it will continue to ship through the second berth at the terminal but explore options for moving additional tonnage elsewhere. CLF +5.1%, ANR +7.9%, WLT +4.3%. Comment! [Energy, On the Move]
Friday, December 7, 2012, 5:47 PM After-hours top gainers, as of 5:15 p.m.: NXY +15%. PLCM +4%. AVGO +2%. UTIW +2%. ALXN +2%.
After-hours top losers: DMND -4%. TCK -3%. GRPN -3%. DOW -2%. BK -2%. 1 Comment [On the Move]