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Copper prices set Teck profit on fire up 247% in Q1 Tailings pond at Teck Resources’ Antamina copper-zinc mine in Peru. ( Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada’s largest diversified miner, became one of the latest mining companies to see its profit swell as copper prices are being pushed to all-time highs by vaccine rollouts and climate pledges. The Vancouver-based miner reported a 247% jump in first-quarter adjusted profit on Wednesday of C$326 million ($262.88 million) or 61 Canadian cents per share. That compares to a net income of C$94 million, or 17 Canadian cents per share, a year earlier. Sign Up for the Energy Digest ....
Teck Resources 1Q Revenue And Earnings Beat Estimates; Shares Plunge 3% Stephanie Bedard-Chateauneuf- April 28, 2021, 1:18 PM EDT SHARE ON: Teck Resources ( TECK.B) shares plunged more than 3% Wednesday despite the company reporting better-than-expected earnings and revenue in its first quarter. The Canadian miner revenue came in at C$2.55 billion in the quarter ended March 31, an increase of 7% from $C2.38 billion in the first quarter of 2020. Meanwhile, 1Q 2021 profit was C$305 million (C$0.57 per share), compared to a loss of C$312 million (C$0.57 per share) in 1Q 2020. Higher copper prices drove the rise in profit. On an adjusted basis, Teck Resources earned C$0.61 per share in the first quarter, up 259% from C$0.17 per share a year ago. ....
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