Posts for Ticker ‘TCK’

French Company Surrenders in Takeover Battle (TOT, SU, PCZ, TCK)

oil-well-image13French supermajor oil company Total SA (NYSE:TOT) has let its offer for Canada’s UTS Energy Corporation expire. Total failed to get tenders for two-thirds of UTS’s shares, and has directed the tender depositary to return all deposited common shares of UTS.
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Posted on: April 28, 2009 – 8:44 am in ADR, Mergers and Buy Outs, Oil & Gas, , , ,

Royal Gold Buys into Another Mine (RGLD, TCK)

gold-image32Royal Gold, Inc. (NASDAQ:RGLD) has agreed to purchase an interest in a Chilean gold mine owned by Teck Cominco Ltd. (NYSE:TCK) for $100 million in cash and about 4.5 million shares of Royal Gold common stock. The company also announced that it would issue 6.5 million new shares of common stock on its existing shelf registration to pay for the acquisition.
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Posted on: April 6, 2009 – 9:05 am in Commodities, Mergers and Buy Outs, Metals, ,

Analyst Downgrade Onslaught Continues (ASML, CMG, FORM, GFIG, ICE, KLAC, MSSR, MPEL, MRG, PEET, PRXI, PHM, RGLD, JAVA, TCK, TER, UDR, VNO)

Burning_money_pic_2This morning was a shocker on just how many analyst downgrades and very negative calls were out from Wall Street analysts.  The sad part is this is only part of the onslaught that we are still seeing.

  • ASML (NASDAQ: ASML) Cut to Market Perform at FBR.
  • Chipotle (NYSE: CMG) Cut to Neutral at Piper Jaffray.
  • FormFactor (NASDAQ: FORM) Cut to Market Perform at FBR.
  • GFI Group (NASDAQ: GFIG) Cut to Hold at Deutsche Bank.
  • IntercontinentalExchange (NYSE: ICE) Cut to Hold at Deutsche Bank.
  • KLA-Tencor (NASDAQ: KLAC) Cut to Market Perform at FBR.
  • McCormick & Schmick’s (NASDAQ: MSSR) Cut to Neutral at Piper Jaffray.
  • Melco Crown (NASDAQ: MPEL) Cut to Hold at Deutsche Bank.
  • Morton’s Restaurant Group (NYSE: MRG) Cut to Neutral at Piper Jaffray.
  • Peet’s Coffee & Tea (NASDAQ: PEET) Cut to Neutral at Piper Jaffray.
  • Premier Exhibitions (NASDAQ: PRXI) Cut to Neutral at Merriman Curhan Ford.
  • Pulte Homes (NYSE: PHM) Cut to Neutral at JPMorgan.
  • Royal Gold (NASDAQ: RGLD) Cut to Sector Underperform at CIBC.
  • Sun Microsystems (NASDAQ: JAVA) Cut to Sell from Neutral at Goldman Sachs (added details).
  • Teck (NYSE: TCK) Cut to Neutral at UBS.
  • Teradyne (NYSE: TER) Cut to Market Perform at FBR.
  • UDR Inc. (NYSE: UDR) Cut to Sell at Goldman Sachs.
  • Vornado (NYSE: VNO) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
January 8, 2009

Posted on: January 8, 2009 – 7:29 am in Analyst Calls, , , , , , , , , , , , , , , , , ,

Early Bird Analyst Upgrades (AEO, BPL, GMR, ITRI, PNR, TCK, URBN)

These are some of the top analyst upgrades we are seeing from Wall Street firms this Thursday morning with more than two hours to the open:

  • American Eagle (AEO) Started as Outperform at Oppenheimer.
  • Buckeye Partners (BPL) Raised to Neutral from Sell at Goldman Sachs.
  • General Maritime (GMR) Raised to Overweight at JPMorgan.
  • Itron (ITRI) Raised to Overweight at JPMorgan.
  • Pentair (PNR) Raised to outperform at Baird.
  • Teck Cominco (TCK) Raised to Buy at Goldman Sachs.
  • Urban Outfitters (URBN) Started as Outperform at Oppenheimer.

Jon C. Ogg
October 23, 2008

Posted on: October 23, 2008 – 6:32 am in Analyst Calls, , , , , , ,

Teck Cominco to Get New Name, New Business Units (TCK, FDG, BHP, BTU)

Canadian miner Teck Cominco (NYSE:TCK) is changing its name to Teck Resources, and the company intends to build its brand just on the name Teck. The new name takes effect legally in April 2009. In addition, Teck is restructuring its business into five separate units: copper, zinc, coal, gold, and energy.

Last July, Teck agreed to acquire Fording Canadian Coal Trust (NYSE:FDG) for an estimated $13-$14 billion, of which Teck is borrowing $9.8 billion. The most significant piece of the deal is Fording’s 60% interest in the Elk Valley metallurgical coal operation, the world’s second largest producer of hard coking coal for export. Teck already owned a 40% interest in Elk Valley and was the mine operator. The Canadian government approved the deal earlier this week, and the takeover is set to take effect on October 29th.

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Posted on: October 3, 2008 – 10:48 am in Commodities, , , ,

Cramer’s New Metals Strategy (AA, LMC, TCK, BHP)

On today’s STOP TRADING segment on CNBC, Jim Cramer said you need to lay back and look at the smaller sub-$5 Billion stocks in the metals sector since it looks like the huge mergers in thr group may have happened.  Two names he gave were Teck Cominco Ltd. (NYSE:TCK) and Lundin Mining (NYSE:LMC).  Lundin was one of those lesser known and lesser followed metals stocks we reviewed in May as an overlooked metals stock when shares were at $12.70 or so.  He still maintains that Alcoa (NYSE:AA) will not be a public company next year, despite the 3% drop today on word that BHP Billiton (NYSE:BHP) is not going to acquire it.

Jon C. Ogg
July 19, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers. 

Posted on: July 19, 2007 – 1:57 pm in Cramer, Mergers and Buy Outs, Metals, , , ,

Earlybird Analyst Calls (May 24, 2007)

BF/B started as Buy at A.G.Edwards.
BMO raised to Outperform at CIBC.
DNDN downgraded to Mkt Perform at JMP Securities.
GNVC started as Buy at Stifel Nicolaus.
INSU started as Neutral at RWBaird.
MPW raised to Buy at Stifel Nicolaus.
NYB raised to Mkt Perform at FBR.
NYT raised to Neutral at JPMorgan.
OVEN raised to Sector Perform at RBC.
PEC started as Outperform at RWBaird.
SNTS raised to Buy ar Merriman Curhan Ford.
TCK cut to Sector Perform at RBC.
TYL started as Buy at B of A.
WSO started as Buy at Oppenheimer.

Jon C. Ogg
May 24, 2007

Posted on: May 24, 2007 – 6:29 am in Analyst Calls, , , , , , , , , , ,