Teck Resources Ltd - Ordinary Shares - Class B (Sub Voting)
TECK - Insider Information
Get informed when a big investor buys or sells
+ FollowMarket Cap$31.62B
Close$
Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 financial performance & cash generation (good):
- Copper price record: quarterly average $6.40/lb.
- Adjusted EBITDA doubled to CAD 2.3B (from CAD ~1.15B prior year), with margin rising to 51% (from 35%).
- Cash flow from operations CAD 1.6B (vs CAD 647M in Q3 2025, nearly 2.5x).
- Net cash position increased by CAD 655M in the quarter and CAD 1.7B year-to-date.
- Liquidity ~CAD 11B as of Sept 30 (incl. CAD 6.7B cash).
Cost outlook improved; production guidance unchanged (good + forward-looking):
- Copper unit cost guidance lowered for 2026: midpoint reduced by $0.13/lb to $1.80–$2.00/lb (from $1.85–$2.20/lb).
- Zinc net cash unit cost guidance lowered for 2026: midpoint reduced by $0.035/lb to $0.30–$0.40/lb (from $0.65–$0.75/lb); total cash unit costs $0.70–$0.80/lb.
- No changes to 2026 production guidance despite weather disruptions.
- Key production stats (Q3): Copper 116k tons (+11% YoY); Zinc 107k tons at Red Dog (-13% YoY); Trail refined zinc 62k tons (+18% YoY).
Severe weather disrupted operations but resilience shown (bad + important operational risk):
- Multiple extreme events across copper assets:
- Carmen de Andacollo & Quebrada Blanca: torrential rain/flooding; Carmen de Andacollo had an extended suspension in Q3.
- QB: heavy snow/high winds in one of the driest regions → intermittent power outages, concentrator shutdowns, dewatering impacts.
- Highland Valley: drought + extended wildfire season.
- Despite disruption, the company says operations were safely recovered in the quarter.
- Residual operational risks remain: the company explicitly notes climate-related impacts and that planning is adjusted for climate scenarios.
Exclusive for Stockcircle Pro members
Sign up
$-5.84
109.1% downside
Current Fair Value
109.1% downsideOvervalued by 109.1% based on the discounted cash flow analysis.
Insider Trades
Loading insider trades…
Congress Trades
Loading congress trades…
Share Statistics
| Market cap | $31.62 Billion |
|---|---|
| Enterprise Value | $35.36 Billion |
| Annual dividend | $0.36 |
| Dividend yield | 0.60% |
| Earnings per Share | $2.84 |
| Beta | 1.59 |
| Outstanding Shares | 490,700,000 |
Return
| Return on Equity | 13.80% |
|---|---|
| Return on Assets | 7.92% |
| Return on Invested Capital | 13.69% |
Valuation & Multiples
| P/E Ratio | 10.87 |
|---|---|
| PEG | 2.33 |
| Price to Sales | 2.15 |
| Price to Book Ratio | 1.11 |
| Enterprise Value to Revenue | 2.34 |
| Enterprise Value to EBIT | 5.85 |
| Enterprise Value to Net Income | 9 |
| Total Debt to Enterprise | 0.28 |
| Debt to Equity | 0.35 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$1.00
Consensus analyst estimateRevenue Estimate
$3.04 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 18, 2027
EPS Estimate
$0.75
Consensus analyst estimateRevenue Estimate
$2.47 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 72.40% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.06%▼ 66.19% |
|---|---|
| Total Invested | $1.32B▼ 93.69% |
| Investors Holding | 130▼ 420.00% |
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.