Why did this slide wipe $1.3B from Teck's market value?

Vancouver-based Teck Resources, Canada’s largest diversified miner which is close to completing a major oil sands project, reported on Thursday a nearly four-fold increase in quarterly profits. The metallurgical coal business of Teck, also a major copper and zinc producer, accounted for 72% of its gross profits during the first nine months of the year. Operationally[…]

Teck Resources shares fall on weaker own coal price outlook

VANCOUVER, Oct 26 (Reuters) – Canada’s Teck Resources Ltd reported weaker-than-expected third-quarter earnings on Thursday and forecast softer prices for its coal in the fourth quarter, sending its shares tumbling more than 8 percent. Teck, the world’s second-biggest exporter of steelmaking coal, said it expects a larger proportion of its coal sales in the fourth[…]

Teck Resources to buy Toronto’s AQM for $25 million

Shares of Teck Resources Ltd. (TSX:TCK.B) were up almost 3% as of press time after the company announced November 21 it has inked a $25 million all-cash deal to purchase AQM Copper Inc. (TSX-V:AQM), a Toronto-based junior miner with a 30% indirect interest in the Zafranal copper-gold project in Peru. Teck already owns a 50%[…]

Coal rally, cost cuts help Teck Resources swing to profit

Canada’s largest diversified miner, Teck Resources (TSX:TCK.B) (NYSE:TCK) logged Thursday better-then-expected quarterly revenue thanks mainly to a sustained rally in coking coal as well as the firm’s cost-cutting measures implemented in the three months to Sept. 30 The Vancouver-based company, the best-performing Canadian stock in seven years, swung to a profit of Cdn$234 million ($174.9 million), or[…]

Coal rally puts the breaks on asset sales in sector

The unprecedented and recent rise in the price of coking coal, which is trading at more than $200 a tonne, is already discouraging acquisitions in the sector as companies that mine the steel-making commodity have suddenly become expensive, Australia-based miner Terracom (ASX:TER) said. The firm, which recently snapped up Rio Tinto’s Blair Athol coal mine in[…]