Canada's Teck Resources TCK reported a 65% decline in its second-quarter profit.
Profit attributable to shareholders dropped to C$268 million, or 46 Canadian cents a share, from C$756 million, or C$1.28 a share, in the year-ago quarter. Its adjusted profit dipped 53% to C$312 million, or 53 Canadian cents per share.
Teck Resources' revenue dropped 7% to C$2.6 billion. However, analysts were expecting a profit of 64 Canadian cents a share and revenue of C$2.47 billion.
Teck Resources shares closed at $28.76 yesterday.
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