Teck profit misses estimates as Glencore circles
Canadian miner Teck Resources, the target of an unsolicited takeover bid by Glencore, narrowly missed first-quarter estimates on Wednesday, hit by lower prices, weak copper and zinc sales and higher expenses.
Teck reported adjusted profit of C$1.81 a share for the three months to March 31, compared with an average analyst estimate of C$1.82, according to Refinitiv IBES data.