Investing.com - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Teck Resources revenues jump on higher steelmaking coal price

Published 10/27/2016, 02:56 PM
Teck Resources revenues jump on higher steelmaking coal price
  • Teck Resources (TCK -0.4%) is slightly lower despite reporting significantly higher than expected Q3 revenues and raising its production forecast for the year.
  • TCK, the largest producer of steel-making coal in North America, expects FY 2016 production at 27M-27.5M metric tons, compared with its previous forecast of 26M-27M metric tons, with sales at or above 6.5M metric tons in Q4.
  • Q3 operating costs fell 7.3% to C$800M, but the company expects unit costs to rise in Q4 as it plans to increase the use of contractors and higher cost equipment to maximize production.
  • TCK says construction of the Fort Hills oil sands project in Alberta is more than 70% complete; TCK owns a 20% stake in the 180K bbl/day project, which is majority-owned by Suncor Energy.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.