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    TECK.B   CA8787422044

TECK RESOURCES LIMITED

(TECK.B)
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Teck Resources : TSX hits 3-week low as energy shares pull back

09/14/2021 | 04:51pm EDT
FILE PHOTO: A sign board displaying Toronto Stock Exchange stock information is seen in Toronto

TORONTO (Reuters) - Canada's main stock index fell on Tuesday to its lowest closing level in nearly three weeks, pressured by declines for energy and financial shares as investors weighed U.S. inflation data as well as prospects of corporate tax hikes in the United States.

The Toronto Stock Exchange's S&P/TSX composite index ended down 113.16 points, or 0.6%, at 20,553.25, its lowest close since Aug. 26.

Wall Street also lost ground as investors looked past lower-than-expected inflation data, focusing instead on economic uncertainties and growing chances of a corporate tax rate hike.

"Any time people talk about those market-related taxes, that can definitely influence investors," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Underlying U.S. consumer prices increased at their slowest pace in six months in August, suggesting that inflation had probably peaked, although it could remain high for a while amid persistent supply constraints.

Investors have been concerned that a sustained rise in inflation could push the Federal Reserve into tightening policy earlier than signaled.

"They still got the issue that the Fed is probably going to have to start tapering because inflation is turning out to be more sticky and less transitory," Cieszynski said.

Canada's inflation report for August is due on Wednesday.

The TSX's energy group fell 1.3%, giving back some of the previous day's sharp gains, while the heavily weighted financials group was down 0.6%.

Shares of Teck Resources Ltd ended 4.9% higher after a report that the company is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion.

Bombardier Inc unveiled an upscale variant of its strong-selling Challenger 350 business jet. Its shares fell 2.6%.

(Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by Peter Cooney)

By Fergal Smith


ę Reuters 2021
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Financials
Sales 2021 12 440 M 9 768 M 9 768 M
Net income 2021 2 285 M 1 795 M 1 795 M
Net Debt 2021 7 204 M 5 657 M 5 657 M
P/E ratio 2021 7,08x
Yield 2021 0,72%
Capitalization 15 867 M 12 466 M 12 460 M
EV / Sales 2021 1,85x
EV / Sales 2022 1,68x
Nbr of Employees 10 000
Free-Float 98,6%
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Technical analysis trends TECK RESOURCES LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 29,73 CAD
Average target price 35,68 CAD
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Donald R. Lindsay President, Chief Executive Officer & Director
Jonathan Price Chief Financial Officer & Senior Vice President
Sheila A. Murray Chairman
Harry Milton Conger Chief Operating Officer & Executive Vice President
Mayank M. Ashar Independent Director
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