Updating Torstar Corp. and Teck Resources Ltd.

Article Excerpt

TORSTAR CORP. $1.64 (www.torstar.com) continues to suffer from weak advertising revenue at its flagship newspaper, The Toronto Star. While the company is investing heavily in new businesses to cut its reliance on those sales, that will take years to pay off. Torstar’s purchase of a 56% stake in VerticalScope is among its investments. That business has over 600 online forums and a variety of websites, including AutoGuide.com, Motorcycle.com, ATV.com and PetGuide.com. Torstar has also launched a tablet version of The Toronto Star. Due to ongoing losses and falling newspaper circulation, we’ve cut Torstar’s TSINetwork Rating to “Extra Risk” from “Average.” Hold. TECK RESOURCES LTD. $23 (www.teck.com) has rebounded strongly from its January 2016 low of $3.65. That’s partly because prices for metallurgical coal, a key ingredient in steelmaking, jumped after China imposed new limits on coal production. Bad weather has also disrupted operations for the country’s coal mines and railways. As a result, China has had to import more coal…