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Teck Resources Limited
Type
Public
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
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)Increase24.8%
Net income
C$2.768 Billion (2011)Increase43%
Total assets C$34.219 Billion (2011)Increase17.8%
Total equity C$17.893 Billion (2011)Increase12.57%
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.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

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

Major Shareholders

Name Relationship Total Shares Holding stocks