Stock Track | Teck Resources Stock Plummets 5% as 2024 Earnings Disappoint

Stock Track

Feb 22, 2025

Shares of Teck Resources Ltd (TECK) plummeted 5% in Friday's trading session, following the release of the company's disappointing full-year 2024 financial results.

The Canadian mining giant reported a 40% decline in revenue for 2024 to CA$9.07 billion compared to the previous year. More significantly, Teck Resources swung to a net loss of CA$800 million, a stark contrast from the CA$2.44 billion profit recorded in 2023. Earnings per share also missed analyst expectations, coming in at a loss of CA$1.55 per share.

The underperformance in Teck Resources' 2024 financials, driven by challenges in the metals and mining industry, has weighed heavily on investor sentiment. While analysts had projected an 8.1% revenue growth for the company over the next three years, the unexpected losses have cast doubt on the company's growth prospects in the near term.

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More significantly, Teck Resources swung to a net loss of CA$800 million, a stark contrast from the CA$2.44 billion profit recorded in 2023. Earnings per share also missed analyst expectations, coming in at a loss of CA$1.55 per share.</p>\n\n<p>The underperformance in Teck Resources' 2024 financials, driven by challenges in the metals and mining industry, has weighed heavily on investor sentiment. While analysts had projected an 8.1% revenue growth for the company over the next three years, the unexpected losses have cast doubt on the company's growth prospects in the near term.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TECK","symbol_name":"泰克资源有限公司","start_time":0,"source_url":"","article_id":"1165770696","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1165770696","pubTimestamp":1740164907,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Teck Resources Ltd  plummeted 5% in Friday's trading session, following the release of the company's disappointing full-year 2024 financial results.The Canadian mining giant reported a 40% decline in revenue for 2024 to CA$9.07 billion compared to the previous year. 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