Teck Resources Ltd (USA) (TCK) is Downgraded by Goldman to Neutral

Teck Resources Ltd (USA) (TCK) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Teck Resources Ltd (USA). Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 16 from a previous price target of $15 .Goldman Initiated Teck Resources Ltd (USA) on May 19, 2016 to “Buy”, Price Target of the shares are set at $12.

On the company’s financial health, Teck Resources Ltd (USA) reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.01. The company had revenue of $1740.00 million for the quarter, compared to analysts expectations of $1781.31 million. The company’s revenue was down -13.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Teck Resources Ltd (USA) opened for trading at $15.17 and hit $15.97 on the upside on Friday, eventually ending the session at $15.93, with a gain of 3.98% or 0.61 points. The heightened volatility saw the trading volume jump to 78,38,254 shares. Company has a market cap of $9,180 M.

Teck Resources Ltd. is engaged in the business of exploring acquiring developing and producing natural resources. The Company is focused on steelmaking coal copper zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead molybdenum silver and various specialty and other metals chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc primarily from its Red Dog mine in Alaska the Antamina mine in northern Peru and its Pend Oreille mine in Washington State. 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.

Teck Resources Ltd (USA)

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