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Teck Resources Limited (TCK) Reports Weaker-Than-Expected Results For The Fourth-Quarter
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Posted on 02/09/10 at 5:50pm by Ed Liston
Analysts at RBC Capital Markets have released an update on Teck Resources Limited (NYSE: TCK). The company has reported weaker-than-expected results for the fourth-quarter.
According to analysts, the weak results for the quarter have been mainly due to shortfalls at Teck Coal, and Trail, and higher costs.
The company is currently negotiating coal prices for 2010. The company has indicated that the talks are at an early stage. However, the company expects a price increase over 2009 levels.
The company had $1.3 billion in cash on hand at the end of the fourth-quarter. Analysts at RBC Capital Markets have maintained a Sector Perform rating for Teck Resources Limited.
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