Teck Resources Ltd - Ordinary Shares - Class B (Sub Voting)

Teck Resources Ltd - Ordinary Shares - Class B (Sub Voting)

TECK

Get informed when a big investor buys or sells

+ Follow
Market Cap$31.25B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Teck Resources Ltd - Ordinary Shares - Class B (Sub Voting)Teck Resources Ltd - Ordinary Shares - Class B (Sub Voting)240.56%7%2.60.4

Earnings Call Q1 2026

April 23, 2026 - AI Summary

Strong Q1 2026 performance + cash build (good/surprising) - Adjusted EBITDA > doubled to $2.1B (vs. Q1 2025), with margins 53% vs 40% driven by record quarterly copper sales volumes, higher commodity prices, and Trail’s optimized feed strategy. - Cash flow from operations: $1.0B; net cash position increased by $338M in the quarter. - Cash increased ~$300M since March 31 (ongoing cash generation into April). Liquidity: $9.8B (as of yesterday). - Operating cash flow outlook sensitivity: if copper averages $5.50/lb for rest of year → ~$5.5B operating cash; if ~$6.0/lb → ~$5.9B (illustrative scenarios).
Core outlook/guidance unchanged, with copper growth expected (forecast/opportunity) - Company emphasized no changes to previously disclosed annual guidance. - Copper segment: Q1 gross profit before D&A +158% to $1.8B, copper gross margin 52% vs 47%. - Copper production: 140k tonnes (+32% YoY); QB production 56k tonnes. - 2026 copper guidance maintained: 455k–530k tonnes (vs 454k tonnes last year). - Unit cost framework: copper 2026 net cash unit cost $1.85–$2.20/lb (vs $2.03/lb last year), with sensitivities: - Silver: each $10/oz change → ~$0.02/lb move in copper cash costs. - WTI (diesel proxy): each $10/bbl change → ~$0.03/lb move. - Zinc segment: Q1 gross profit before D&A +72% to $387M, margin 37% vs 29%. - 2026 zinc outlook unchanged: concentrate 410k–460k tonnes; refined 190k–230k tonnes. - Zinc net cash unit cost guidance $0.65–$0.75/lb (vs $0.30–$0.33 last year) reflecting lower expected zinc volumes.
QB TMF (tailings) progress is strong, but timing/infrastructure depends on steady-state (good + key risk area) - QB delivered 56k tonnes copper production (in line with Q4 2025 despite planned maintenance and a shorter February). - TMF milestones: - Rock Bench 4 completed in Q1 2026; ongoing sand dam development with improved sand deposition. - Rock Bench 5 expected by end of Q2. - Secondary sand cyclone system planned (timing in 2H 2026). - Steady-state TMF expected by year-end. - Permanent infrastructure installation: expected in a 2027 window after steady-state is achieved. - Management explicitly said this poses no risk to 2026 production guidance, but investors should still watch tailings development as a potential constraint (capacity/deposition assurance).

Exclusive for Stockcircle Pro members

Sign upSign Up
$64.50

Target Price by Analysts

0.5% downsideTeck Resources Target Price DetailsTarget Price
$-5.73

Current Fair Value

108.8% downside

Overvalued by 108.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$31.25 Billion
Enterprise Value$35.95 Billion
Dividend Yield$0.36 (0.56%)
Earnings per Share$2.84
Beta1.57
Outstanding Shares489,200,000

Return

Return on Equity7.04%ROE
Return on Assets3.97%
Return on Invested Capital6.60%

Valuation & Multiples

P/E Ratio23.99P/E Ratio
PEG19.77PEG
Price to Sales2.59Price to Sales
Price to Book Ratio1.18Price to Book Ratio
Enterprise Value to Revenue2.9
Enterprise Value to EBIT12.81
Enterprise Value to Net Income19
Total Debt to Enterprise0.28
Debt to Equity0.39Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
April 23, 2026
EPS Estimate
$0.80
Average shareholder expectation
Revenue Estimate
$2.32 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 23, 2026
EPS Estimate
$0.66
Average shareholder expectation
Revenue Estimate
$2.31 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.4092▼ 30.63%
Total Calls7,964,692▲ 16.72%
Total Puts3,258,977▼ 33.25%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %67.80%▼ 0.02%
Total Invested$17.18B▲ 7.96%
Investors Holding527▲ 21.00%

ESG Score

No data

About Teck Resources Ltd

10,700 employees
CEO: Donald Lindsay

Headquartered in Vancouver, Canada, Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, zinc and steelmaking coal, as well as investments in energy assets.

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and analysis for tax legislation, directly influencing corporate tax structures and capital investment credits that impact Teck Resources' financial planning and profitability.

Finance

This committee controls taxation and trade policy, both of which are critical for the profitability of a multinational resource company like Teck Resources through corporate tax rates and tariffs.

Appropriations

This committee allocates federal spending for infrastructure, scientific research, and other programs, directly influencing demand for Teck Resources' products (e.g., copper and zinc in construction).

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC and commodity derivatives markets, directly impacting the trading and pricing mechanisms for Teck Resources' products like copper, zinc, and coal.

Energy and Natural Resources

This committee has direct oversight of national energy policy, public lands, and the mining sector, directly impacting Teck Resources' core business units (copper, zinc, coal, energy assets).

Environment and Public Works

This committee regulates environmental protection (EPA), directly impacting mining operations and costs for Teck Resources. Infrastructure spending also drives demand for their products.