Teck Resources Stock Jumped 12.4% in November: Can the Rally Continue?

Teck Resources Stock Jumped 12.4% in November: Can the Rally Continue?

After losing nearly 11% in value in just the last week of October, Teck Resources (NYSE: TECK) stock staged a remarkable comeback in November, ending the month with solid 12.4% gains. Comparatively, shares of rival coal miner Alliance Resource Partners (NASDAQ: ARLP) slumped 7.4% last month despite reaffirming its full-year revenue and earnings guidance and increasing its quarterly dividend by 1%.

Teck's November gains were clearly guided by company-specific developments as investors soon realized how the market had overreacted to the miner's third-quarter numbers released on Oct. 26.

Teck shares crashed in the last week of October after the coal miner missed earnings estimates for Q3 and forecast lower coal prices for Q4.

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Source: Fool.com