Deutsche Bank Downgrades Teck Resources (TCK) to Sell

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Go back to Deutsche Bank Downgrades Teck Resources (TCK) to Sell

Teck Reports Unaudited Third Quarter Results for 2015

October 22, 2015 5:01 AM EDT

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/22/15 -- Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") reported adjusted profit attributable to shareholders of $29 million, or $0.05 per share, in the third quarter of 2015. Teck also reported non-cash after-tax impairment charges of $2.2 billion resulting in a third quarter loss attributable to shareholders of $2.1 billion, or $3.73 per share. The impairment charges are non-cash revaluations of assets to reflect lower market expectations of commodity prices.

"We are taking significant steps to meet the challenge of low commodity prices," said Don Lindsay, President and... More