YoY profit from 2016 to 2017 TECK saw incredible changes in sales and savings. Bottom line, last year their profit was 15mil, this year 577 mil.
Should be a very bullish day for TECK.
TECK is a diversified commodities mining company, and has recently been making global moves as well as implementing major cost savings initiatives. (mining coal, zinc, gold, copper, ect)
Also the stock has gone up almost 10% in the past 2 weeks, very consistently.
Statement from CEO:
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 27, 2017) - Teck Resources Limited (TSX:TECK)(NYSE:TECK) ("Teck") reported profit attributable to shareholders of $577 million ($1.00 per share) in the second quarter compared with $15 million ($0.03 per share) a year ago.
"I'm pleased with our results," said Don Lindsay, President and CEO. "We generated adjusted EBITDA of $1.3 billion in the second quarter and $5.4 billion over the last twelve months. After a challenging first quarter we set second quarter steelmaking coal sales and production records of 6.9 and 6.8 million tonnes, respectively, and we reduced our outstanding notes to US$4.8 billion, achieving our target of less than US$5 billion."
Submitted July 31, 2017 at 09:24AM by bgjnat56 http://ift.tt/2wdRHoN
