Teck Resources on the rise despite lower earnings forecast

Canadian diversified miner Teck Resources has reported a significantly narrower fourth-quarter adjusted profit as lower copper and steelmaking coal prices have dented the company’s financial performance. For the three months ended December 31, Teck reported net profit, excluding special items of C$116-million, or C$0.20 a share, compared with C$227-million, or C$0.40 a share, in the comparable quarter of 2013. The decline in profit was mainly owing to significantly lower coal prices and a decline in copper sales volumes and prices.