But making Teck Resources Ltd an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of TCK entered into oversold territory, changing hands as low as $15.30 per share.
Shares of Canadian diversified miner Teck Resources Ltd dropped to a five-year low on Thursday after China, the world's top coal importer, said it will levy tariffs of 3 percent to 6 percent on imports of coal as of Oct. 15.
VANCOUVER - Teck Resources Ltd. (TSX:TCK.B) says lower prices for steelmaking coal continued to have a negative impact on its profit and cash flow during the third quarter but cost-reduction efforts have done better than expected.
Canadian miner Teck Resources Ltd. posted a 69% drop in its third-quarter profit on Wednesday, hurt by slumping coal prices, a drop in copper production and a charge related to new Chilean tax legislation.
Vancouver, BC - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") reported third quarter adjusted profit attributable to shareholders of $159 million, or $0.28 per share, compared with $252 million or $0.44 per share in 2013.
Mr Don Lindsay CEO of Teck Resources Ltd said that the steel-making coal market, where prices have plunged to seven-year lows due to oversupply, could be back in balance by the middle of 2015 if producers continue to cut back output.
Ladies and gentlemen, thank you for standing by. Welcome to Teck's Third Quarter 2014 Conference Call. [Operator Instructions] I would now like to turn the meeting over to Greg Waller, Vice President, Investor Relations and Strategic Analysis.