Contrarian investors are searching for beaten-up stocks that could be on the cusp of a big rebound. Let's take a look at Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) to see if Canada's largest diversified mining company deserves to be in your portfolio.
Prices have firmed up in recent weeks, and Teck says coal is currently fetching more in the spot market than buyers are paying for Q2 2016 contract settlements, so the trend is finally moving in a positive direction.
Teck Resources Ltd (NYSE:TCK) is a diversified miner with a heavy focus on metallurgical coal. That's been a huge drag on performance for a number of years, but it's starting to look like the industry has finally hit bottom.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2016) - Homestake Resource Corporation ("Homestake" or the "Company") (TSX VENTURE:HSR)(FRANKFURT:B6IH) has closed a purchase agreement with Teck Resources Ltd. ("Teck") to ...