To say it’s been a tough year for Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) would be an understatement.
The company is dealing with lower commodity prices across the board. Thanks to lower demand from China and a general aversion to the commodity in general, metallurgical coal prices have fallen off a cliff. The market for zinc and copper isn’t exactly strong either, and investors are punishing Teck for its ill-timed investment in the Fort Hills oil sands project.
Perhaps this is just a temporary drop. Remember, the last time Teck traded at such low levels was during the first part of 2009 when it dropped as low at $5 per share. By 2011, shares had rebounded with a vengeance, hitting a high of $60 each.
Is Teck poised for that kind of rebound? Or are the problems much worse this time around?
Source: Can Teck Resources Ltd. (USA) Ever Come Back? | The Motley Fool Canada