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Teck Resources Goes From Dud to Darling as Coal Makes a Comeback

  • Miner's shares have almost tripled as met coal and metals rise
  • Reversal of fortune has led to surge in analyst EPS estimates
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Shares of Teck Resources Ltd. have almost tripled this year, making the Canadian company the best-performing global miner amid the rebound in commodity prices and a projected fivefold improvement in earnings.

The price of Teck’s three main products have surged, with metallurgical coal leading and zinc a close second. Until recently, copper had lagged the pack but gains last week have narrowed the gap. Last year, 37 percent of the Vancouver-based miner’s revenue came from met coal, which is used to make steel, 34 percent from zinc and 29 percent from copper.