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UPDATE 1-Teck lowers forecast for steelmaking coal price, shares drop

(Adds analyst comment and forecast revision, stock price details, additional details on Teck)

TORONTO, June 15 Teck Resources Ltd shares fell nearly 4 percent on Thursday after the diversified Canadian miner clipped its forecast of the average realized price for its steelmaking coal in the second quarter, citing sales disruptions.

Vancouver-based Teck said it now expects an average realized price of $160 to $165 per tonne, lagging the $190 benchmark price and trailing the $213 price realized in the first quarter.

"The discount to benchmark is expected to widen to 13 percent to 16 percent, compared to the previous guidance of 5 percent, as there were very few prime hard-coking coal spot sales during the four-week period from mid-April, following the Queensland cyclone" in Australia, RBC Capital Markets analyst Stephen Walker said in a note to clients.

Teck, the largest North American producer of steelmaking - or coking - coal, expects sales volumes of 6.8 million to 7 million tonnes in the second quarter, compared with a previous forecast of 6.8 million tonnes.

Walker cut his estimate for Teck's second-quarter operating free cash flow, before debt repayment, to $596 million from $800 million.

Shares of Teck, which also mines copper, gold and silver, dropped 3.75 percent after a trading halt was lifted, closing at C$21.58 on the Toronto Stock Exchange. (Reporting by Susan Taylor in Toronto and John Benny in Bengaluru; editing by Arun Koyyur and Jonathan Oatis)

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