Lower Copper and Zinc Sales and Higher Expenses Drag down Teck Resources' Net Income in Q1

Canadian miner Teck Resources Ltd. reported a quarterly net profit slightly below market expectations, weighed down by lower metal prices, a drop in its copper and zinc sales volume, and higher expenses.

The company reported first-quarter net income of C$1.81 per share, compared with market analysts' previous estimate of C$1.82 per share.

Teck Resources has repeatedly rejected merger proposals from Swiss commodities giant Glencore.

The company's copper unit reported a 42.1 percent drop in net profit in the first quarter as sales volumes fell and average copper sales prices declined.

International copper prices plunged about 10 percent in the first quarter of this year, according to the data.