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Type
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Public |
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Traded as | TSX: TECK.A, TECK.B NYSE: TECK S&P/TSX 60 component |
Industry | Metals and Mining |
Founded | 1906 Consolidated Mining and Smelting Company of Canada |
Headquarters | Vancouver, British Columbia, Canada |
Key people
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Norman B. Keevil, Chair Donald R. Lindsay, President & CEO Ronald A. Millos, CFO |
Products | Zinc, gold, copper, coal, oil |
Revenue | C$11.514 Billion (2011)24.8% |
Net income
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C$2.768 Billion (2011)43% |
Total assets | C$34.219 Billion (2011)17.8% |
Total equity | C$17.893 Billion (2011)12.57% |
Number of employees
|
13,500 (2011) |
Divisions | Teck Metals Ltd.(since July 20, 2001, Vancouver) Teck Cominco Peru S.A (Lima) Minera Torre de Oro, S.A. de C.V(Mexico) |
Website | www.teck.com |
Teck Resources Limited known as Teck Cominco until late 2008, is a Canadian metals and mining company. Canada's largest diversified resources company, it was formed from the amalgamation of Teck and Cominco in 2001.
Teck's products at 2017 include coal, copper, zinc, lead, silver, gold, molybdenum, germanium, indium and cadmium.
Cominco started in 1906 as The Consolidated Mining and Smelting Company of Canada, formed by the amalgamation of several units controlled by the Canadian Pacific Railway. CM&S, or "Smelters" as it was often called by investors, changed its name to Cominco in 1966. Cominco's core Sullivan Mine in Kimberley, British Columbia which began production of lead, zinc, silver and tin in 1909, would operate for more than 90 years until its ore reserves exhausted in 2001.
Teck began as Teck-Hughes Gold Mines Limited in 1913, to develop a gold discovery by prospectors Sandy McIntyre and James Hughes at Kirkland Lake, Ontario. The Teck-Hughes Mine would produce for 50 years until 1965. The Beaverdell Mine, purchased by Teck in 1969, went back even further to 1898, and produced silver until 1991.
The association between Teck and Cominco began in 1986, when Teck and two industry partners acquired a shareholding from CP Limited, and culminated with the merging of the two companies in July 2001.
On May 8, 2006, Teck Cominco offered to purchase Inco for $16 billion, but CVRD eventually purchased it for $17 billion.
On July 29, 2008 Teck Cominco announced an agreement with Fording Canadian Coal Trust, which owned a 60% stake in the Elk Valley Coal Partnership, to purchase 100% of its assets. Teck Cominco had been the minority owner of the Elk Valley Coal Partnership, with a 40% stake. The facilities are located near Fernie, British Columbia. The purchase was closed on October 30, 2008, with a final cost of $14-billion USD. Elk Valley Coal Corporation will be renamed Teck Coal Limited. The purchase resulted in Teck taking on $9.8-billion USD in debt; the company has suspended dividends, cut spending, and is selling some assets to save money. On January 9, 2009, the company also announced a plan to cut 13% of their total workforce, amounting to 1,400 jobs, saving the company $85 million. Coal production targets were also lowered by 20% in response to declining worldwide demand for steel, in the midst of the global financial crisis.
Beginning October 1, 2008, Teck Cominco began rebranding itself as Teck. The legal name of the company was changed to Teck Resources Ltd. on 23 April 2009 after being approved by shareholders the previous day.
In 2008, its $25 million donation to BC Children's Hospital Foundation earned its name attached to the Teck Acute Care Centre expected to complete construction in 2017.
In July 2009, China Investment Corporation bought a 17% stake in Teck for C$1.74bn.
In 2012, the Company announced record earning, record profit and record production, thus ending the year 2011 with $4.4 billion in cash. Besides expanding into Energy sector, the company was also executing two major projects in Chile and planning a $600 million restart of its Quintette Mine near Tumbler Ridge, British Columbia.
In the past, Teck Cominco has been criticized and sued for violating environmental laws and standards. Teck Resources, however, has made "best in class" environmental and social performance a priority of late, and is getting recognized for its efforts; awards for safety, reclamation and sustainable development are all available for public scrutiny on their website, as is their sustainability report.
The company's smelter in Trail, British Columbia was blamed in 2003 for heavily contaminating the Columbia River. Legal action taken by American citizens living in settlements downriver progressed to the U.S. Supreme Court and was recently denied certiorari, solidifying the Appellate Court's holding that Teck is subject to U.S. jurisdiction even though it is a Canadian company.
A refinery belonging to Teck in Trail, British Columbia was the site of a lead spill into the Columbia River on May 28, 2008.
The company's Red Dog mine operation in north-western Alaska has been ranked by the U.S. Environmental Protection Agency as one of the most polluting facilities in the United States based on output tonnage of toxic waste, largely (over 99%)in the form of blasted and moved, but otherwise unprocessed, waste rock from mining operations. Residents living downstream from the mine launched a lawsuit against Teck Cominco, demanding that the Red Dog mine complies with its environmental obligations and that it pay fines for continuing to violate its water permit requirements. On November 30, 2007, the company released the final report of its six-year study, with the oversight of the Alaska Department of Environmental Conservation, of risks of dust escaping from traffic along what is officially known as the DeLong Mountain Regional Transportation System Road. The final report incorporates formal comments and input from a wide range of government agencies and stakeholders, including local village residents. The risk assessment concludes it is safe to consume subsistence foods in all areas without restrictions.
After a long running court case filed by Washington state’s Native American Colville Confederated Tribes over environmental damage from smelter effluents, Teck Resources confessed to polluting the upper reaches of the Columbia River for nearly a century. According to reports, the Teck smelter in the city of Trail disposed of hazardous effluent in adjacent river systems between 1896 and 1995.
The Colville Confederated Tribes filed a lawsuit against Teck Cominco in 2004 claiming the company had dumped 140,000 tons of slag directly into the river, polluting the surface water, ground water and sediment of the upper Columbia River and Lake Roosevelt with hazardous metals including arsenic, cadmium, mercury, lead, copper and zinc.
2016-07-07 | Reiterated Rating | Deutsche Bank AG | Sell | |
2016-07-01 | Reiterated Rating | TD Securities | Buy | $17.00 to $20.00 |
2016-06-28 | Reiterated Rating | Credit Suisse | Hold | |
2016-06-28 | Reiterated Rating | Credit Suisse Group AG | Hold | |
2016-06-15 | Reiterated Rating | FBR & Co. | Hold | |
2016-06-15 | Reiterated Rating | FBR & Co | Hold | |
2016-06-08 | Reiterated Rating | RBC Capital | Outperform | |
2016-06-08 | Reiterated Rating | Royal Bank Of Canada | Outperform | |
2016-05-19 | Initiated Coverage | Goldman Sachs | Buy | $12.00 |
2016-05-19 | Initiated Coverage | Goldman Sachs Group Inc. | Buy | $12.00 |
2016-05-05 | Reiterated Rating | Paradigm Capital | Buy | $7.75 to $17.00 |
2016-05-02 | Reiterated Rating | FBR & Co. | Hold | |
2016-04-27 | Reiterated Rating | RBC Capital | Outperform | $13.00 to $15.00 |
2016-04-26 | Reiterated Rating | Barclays | Underweight | $5.00 to $7.00 |
2016-04-26 | Upgrade | National Bank Financial | Underperform Market Weight to Sector Perform Marke | |
2016-04-26 | Reiterated Rating | Barclays PLC | Underweight | $5.00 to $7.00 |
2016-04-24 | Reiterated Rating | CIBC | Sector Outperform | $16.00 |
2016-04-21 | Downgrade | FBR & Co. | Outperform to Market Perform | $15.00 to $10.00 |
2016-04-21 | Reiterated Rating | Scotiabank | Sector Perform | $9.00 to $10.00 |
2016-04-19 | Boost Price Target | JPMorgan Chase & Co. | Neutral | $6.00 to $8.00 |
2016-04-19 | Downgrade | Credit Agricole | Outperform to Underperform | |
2016-04-19 | Downgrade | Credit Agricole SA | Outperform to Underperform | |
2016-04-18 | Reiterated Rating | RBC Capital | Outperform | $10.00 to $13.00 |
2016-04-17 | Reiterated Rating | Credit Suisse | Neutral | |
2016-04-01 | Upgrade | TD Securities | Hold to Buy | |
2016-03-31 | Reiterated Rating | Scotiabank | Sector Perform | $7.50 to $9.00 |
2016-03-24 | Downgrade | Raymond James | Market Perform to Underperform | |
2016-03-24 | Reiterated Rating | Deutsche Bank | Sell | |
2016-03-24 | Reiterated Rating | Deutsche Bank AG | Sell | |
2016-03-24 | Downgrade | Raymond James Financial Inc. | Market Perform to Underperform | |
2016-03-18 | Reiterated Rating | Nomura | Sell | $6.00 |
2016-03-18 | Reiterated Rating | Nomura Holdings Inc. | Sell | $6.00 |
2016-03-12 | Reiterated Rating | TD Securities | Hold | $5.50 to $9.50 |
2016-03-04 | Reiterated Rating | Scotiabank | Sector Perform | $8.00 to $7.50 |
2016-02-22 | Downgrade | National Bank Financial | Sector Perform Market Weight to Underperform Marke | |
2016-02-16 | Reiterated Rating | Scotiabank | Sector Perform | $8.50 to $8.00 |
2016-02-14 | Reiterated Rating | TD Securities | Hold | $5.00 to $5.50 |
2016-02-14 | Upgrade | Paradigm Capital | Hold to Buy | |
2016-02-11 | Reiterated Rating | Barclays | Underweight | $4.00 to $5.00 |
2016-02-05 | Reiterated Rating | RBC Capital | Outperform | $10.00 |
2016-02-04 | Reiterated Rating | FBR & Co. | Outperform | $10.00 |
2016-01-14 | Downgrade | Barclays | Equal Weight to Underweight | $11.00 to $4.00 |
2016-01-08 | Lower Price Target | Nomura | $6.40 to $4.25 | |
2015-12-17 | Downgrade | Canaccord Genuity | Hold to Sell | |
2015-12-06 | Reiterated Rating | Raymond James | Market Perform | $11.50 to $7.00 |
2015-12-02 | Reiterated Rating | Citigroup Inc. | Neutral | $9.00 to $6.00 |
2015-11-20 | Reiterated Rating | TD Securities | Hold | $11.00 to $8.50 |
2015-11-20 | Reiterated Rating | RBC Capital | Outperform | |
2015-10-23 | Upgrade | Haywood Securities | Hold to Buy | |
2015-10-23 | Upgrade | BB&T Corp. | Hold to Buy | $10.00 |
2015-10-23 | Downgrade | Deutsche Bank | Hold to Sell | $5.00 |
2015-10-21 | Reiterated Rating | Dundee Securities | Neutral | |
2015-10-20 | Reiterated Rating | Scotiabank | Sector Perform | $10.50 |
2015-10-20 | Reiterated Rating | Barclays | Equal Weight | $14.00 to $11.00 |
2015-10-19 | Reiterated Rating | RBC Capital | Outperform | $18.00 |
2015-10-18 | Reiterated Rating | Citigroup Inc. | Neutral | $7.50 to $9.00 |
2015-10-05 | Lower Price Target | Deutsche Bank | Hold | $9.00 to $5.00 |
2015-10-02 | Upgrade | CIBC | Sector Perform to Sector Outperform | |
2015-10-01 | Downgrade | FBR & Co. | Outperform | $12.00 |
2015-09-21 | Reiterated Rating | FBR & Co. | Buy | |
2015-09-18 | Initiated Coverage | FBR & Co. | Outperform | $12.00 |
2015-09-11 | Reiterated Rating | Scotiabank | Sector Perform | $14.00 |
2015-09-08 | Reiterated Rating | Canaccord Genuity | Hold | $12.00 to $9.00 |
2015-07-24 | Reiterated Rating | Cowen and Company | Market Perform | $14.00 to $8.00 |
2015-07-23 | Reiterated Rating | Scotiabank | Sector Perform | $14.00 |
2015-07-15 | Reiterated Rating | Cowen and Company | Outperform | |
2015-07-02 | Reiterated Rating | Credit Suisse | Neutral | $17.50 to $17.00 |
2015-07-02 | Lower Price Target | Deutsche Bank | Hold | $15.00 to $12.00 |
2015-06-30 | Reiterated Rating | Raymond James | Market Perform | $19.00 to $16.00 |
2015-06-01 | Reiterated Rating | Scotiabank | Sector Perform | $20.50 to $19.00 |
2015-06-01 | Reiterated Rating | Dundee Securities | Neutral | $19.00 to $15.00 |
2015-05-28 | Reiterated Rating | Brean Capital | Hold | |
2015-05-27 | Reiterated Rating | TD Securities | Hold | $18.00 to $16.00 |
2015-04-29 | Downgrade | Scotiabank | Sector Outperform to Sector Perform | |
2015-04-22 | Set Price Target | Cowen and Company | Hold | $20.00 to $14.00 |
2015-04-16 | Downgrade | National Bank Financial | Underperform | |
2015-04-16 | Reiterated Rating | Brean Capital | Hold | |
2015-04-15 | Lower Price Target | JPMorgan Chase & Co. | Neutral | $20.00 to $17.00 |
2015-04-09 | Downgrade | Credit Suisse | Outperform to Neutral | |
2015-04-07 | Downgrade | CIBC | Outperform to Sector Perform | |
2015-04-06 | Lower Price Target | Deutsche Bank | Hold | $16.00 to $15.00 |
2015-04-01 | Reiterated Rating | Canaccord Genuity | Hold | |
2015-02-15 | Reiterated Rating | Canaccord Genuity | Hold | $19.00 |
2015-02-13 | Reiterated Rating | Scotiabank | Sector Outperform | |
2015-02-13 | Reiterated Rating | Brean Capital | Hold | |
2015-02-11 | Downgrade | Bank of America | Neutral to Underperform | |
2015-02-11 | Downgrade | Bank of America Corp. | Neutral to Underperform | |
2015-01-23 | Lower Price Target | JPMorgan Chase & Co. | Neutral | $25.00 to $18.00 |
2015-01-20 | Upgrade | Bank of America | Underperform to Neutral | $13.00 |
2015-01-16 | Upgrade | National Bank Financial | Sector Perform | |
2015-01-12 | Lower Price Target | Deutsche Bank | Hold | $22.00 to $16.00 |
2015-01-05 | Upgrade | Desjardins | Hold to Buy | |
2014-11-20 | Reiterated Rating | Scotiabank | Sector Outperform | |
2014-10-30 | Reiterated Rating | Deutsche Bank | Hold | $25.00 to $22.00 |
2014-10-30 | Lower Price Target | Cowen and Company | Market Perform | $23.00 to $19.00 |
2014-10-29 | Reiterated Rating | Scotiabank | Sector Outperform | |
2014-10-23 | Reiterated Rating | FBR & Co. | Outperform | $28.00 to $25.00 |
2014-10-16 | Initiated Coverage | Barclays | Equal Weight to Equal Weight | $23.00 |
2014-10-14 | Upgrade | Clarkson Capital | Hold to Buy | |
2014-09-23 | Upgrade | Sanford C. Bernstein | Market Perform to Outperform | |
2014-09-22 | Initiated Coverage | BMO Capital Markets | Market Perform | |
2014-08-12 | Downgrade | Goldman Sachs | Neutral to Sell | |
2014-07-25 | Reiterated Rating | Scotiabank | Sector Outperform | C$31.00 to C$33.00 |
2014-07-22 | Downgrade | National Bank Financial | Underperform | |
2014-07-11 | Downgrade | Bank of America | Neutral to Underperform | $22.00 to $21.00 |
2014-07-07 | Reiterated Rating | Deutsche Bank | Hold | $26.00 to $25.00 |
2014-04-23 | Lower Price Target | Paradigm Capital | Buy | $42.50 to $40.00 |
2014-04-23 | Boost Price Target | Canaccord Genuity | ||
2014-04-16 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $25.00 |
2014-04-08 | Boost Price Target | Morgan Stanley | Equal Weight | $25.00 to $27.00 |
2014-04-01 | Lower Price Target | FBR & Co. | $30.00 to $27.00 | |
2014-02-18 | Downgrade | Morgan Stanley | Outperform to Sector Perform | $35.00 |
2014-02-18 | Downgrade | Iberia Capital | Outperform to Sector Perform | |
2014-02-14 | Lower Price Target | Scotiabank | Outperform | C$34.00 to C$32.00 |
2014-02-13 | Reiterated Rating | Scotiabank | Sector Outperform | |
2014-01-09 | Downgrade | Cowen and Company | Outperform to Market Perform | $34.00 to $27.00 |
2013-12-18 | Initiated Coverage | Clarkson Capital | Market Perform | |
2013-12-12 | Initiated Coverage | Sanford C. Bernstein | Market Perform | $25.00 |
2013-11-27 | Downgrade | BMO Capital Markets | Outperform to Market Perform | |
2013-11-04 | Reiterated Rating | Scotiabank | Sector Outperform | $35.00 |
2013-10-31 | Reiterated Rating | RBC Capital | Outperform | |
2013-10-28 | Boost Price Target | FBR & Co. | Outperform | $30.00 to $35.00 |
2013-10-28 | Downgrade | Bank of America | Buy to Neutral | |
2013-10-25 | Boost Price Target | TD Securities | Hold | $30.00 to $31.00 |
2013-10-25 | Boost Price Target | Scotiabank | Sector Outperform | $31.00 to $35.00 |
2013-10-25 | Boost Price Target | Deutsche Bank | Hold | $26.00 to $28.00 |
2013-10-25 | Reiterated Rating | CIBC | Sector Outperform | $41.00 |
2013-10-25 | Boost Price Target | BMO Capital Markets | Outperform | $30.00 to $33.00 |
2013-10-22 | Reiterated Rating | Deutsche Bank | Buy | $28.00 to $26.00 |
2013-10-22 | Lower Price Target | Haywood Securities | Buy | $32.00 to $30.50 |
2013-10-16 | Boost Price Target | Scotiabank | $29.00 to $31.00 | |
2013-10-02 | Reiterated Rating | Deutsche Bank | Buy | $25.00 to $26.00 |
2013-09-27 | Initiated Coverage | Citigroup Inc. | Buy to Neutral | |
2013-02-08 | Reiterated | BMO Capital Markets | Outperform | $40 to $39 |
2012-09-07 | Downgrade | Dahlman Rose | Buy to Hold | |
2012-07-26 | Reiterated | Dahlman Rose | Buy | $43 to $39 |
2012-02-10 | Reiterated | Dahlman Rose | Buy | $47 to $52 |
2011-08-01 | Upgrade | BB&T Capital Mkts | Hold to Buy | |
2011-04-13 | Initiated | BB&T Capital Mkts | Hold | |
2010-03-08 | Upgrade | Canaccord Adams | Hold to Buy |
2016-07-07 | Reiterated Rating | Deutsche Bank AG | Sell | |
2016-07-01 | Reiterated Rating | TD Securities | Buy | $17.00 to $20.00 |
2016-06-28 | Reiterated Rating | Credit Suisse | Hold | |
2016-06-28 | Reiterated Rating | Credit Suisse Group AG | Hold | |
2016-06-15 | Reiterated Rating | FBR & Co. | Hold |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In TCK 265 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
DODGE & COX | 26.72M |
ROYAL BANK OF CANADA | 20.26M |
Vanguard Group, Inc | 15.60M |
DAVIS SELECTED ADVISERS | 12.75M |
Soroban Capital Partners LP | 12.06M |
Egerton Capital (UK) LLP | 11.98M |
HENDERSON GROUP PLC | 6.84M |
DIMENSIONAL FUND ADVISORS LP | 6.08M |
CIBC Asset Management Inc | 5.60M |
LETKO, BROSSEAU & ASSOCIATES INC | 5.36M |
BANK OF MONTREAL /CAN/ | 4.85M |
Grantham, Mayo, Van Otterloo & Co. LLC | 4.69M |
BlackRock Inc. | 4.29M |
BANK OF NOVA SCOTIA / | 4.06M |
JPMORGAN CHASE & CO | 3.99M |