Teck Resources’ 1Q17 Earnings: What’s the Word on Wall Street
What to expect from Teck Resources in 1Q17
Teck Resources (TECK), the Canadian-based (EWC) diversified miner (BHP), closed at $21.51 on April 18, 2017, falling 3.9% from the previous day’s close. Although the stock has pared some of its gains after it had a closing high of $26.25 on January 25, 2017, it’s still trading with a YTD (year-to-date) rise of 7.4%. By comparison, Southern Copper (SCCO) and Glencore (GLNCY) are trading with YTD rises of 9.5% and 10.2%, respectively.
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1Q17 earnings season
The 1Q17 earnings season has begun, and Teck Resources is expected to release its 1Q17 financial results on April 25, 2017. Freeport-McMoRan (FCX) is also expected to release its 1Q17 financial results that day. Be sure to read Will Freeport-McMoRan’s 1Q17 Results Pacify Markets? to find out analysts’ expectations for Freeport’s 1Q17 earnings.
Copper, zinc, and steelmaking coal are the three commodities that Teck Resources produces. While copper and zinc have been weak lately, steelmaking coal prices have surged over the last couple of weeks due to a supply disruption in Australia. Generally, commodity prices tend to impact mining companies’ price movements. But we could see earnings take center stage, especially around the release dates.
In this series, we’ll explore what Wall Street analysts expect from Teck Resources’ 1Q17 earnings. We’ll also look at the key metrics the markets will likely watch in the company’s 1Q17 earnings call.
Let’s start by looking at Teck Resources’ 1Q17 revenue estimates.