TECK is still mulling the sale of part of its coal assets, but we haven't seen any new concrete news on the split. TECK says it is in negotiations with several companies. Meanwhile, Glencore continues to circle the company. EPS of $1.22 missed estimates by 6%; revenue of $3.51B missed estimates by 2%. Revenue fell 34%. Copper production forecast was lowered to 330,000 tonnes, from 390,000+. Certainly these results are not great, but at 9X earnings investors have accepted this disappointment, and it is currently trading more for its asset/break up value than on earnings.
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