Teck Resources' (TECK) Q1 bottom line reflects the impacts of higher costs, lower steelmaking coal sales volumes and a decline in copper and zinc prices.
Teck Resources (TECK) delivered earnings and revenue surprises of -22.22% and 1.03%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Canadian miner Teck Resources missed first-quarter profit estimates on Thursday, pulled down partly by lacklustre steelmaking coal sales volumes and lower zinc prices. of the business to Swiss miner Glencore Plc, and said it was shifting its strategy towards building its copper business. The miner reported a 74% rise in copper production at 99,000 tonnes in the first quarter, helped by ramp-up in output at its Quebrada Blanca (QB) mine in Chile.