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Teck Resources (TECK.B) AI Stock Analysis
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Teck Resources
(TSX:TECK.B)
The score is driven primarily by improving TTM fundamentals (stronger margins/returns and moderate leverage) and a notably positive earnings call with better cost guidance and strong operating/price tailwinds. These are tempered by cash-flow conversion volatility typical of a cyclical producer and a mixed-to-weak technical setup (negative MACD and below key short-term averages), while valuation is reasonable but the dividend yield is low.
Teck Resources (TECK.B) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 29.27B
- Dividend Yield
- 0.59%
- Average Volume (3M)
- 1.20M
- Price to Earnings (P/E)
- 10.9
- Beta (1Y)
- 1.91
- Revenue Growth
- 44.25%
- EPS Growth
- 220.56%
- Country
- Canada
- Employees
- 7,429
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Copper
Teck Resources Business Overview & Revenue Model
Company Description
Teck Resources Limited, a Vancouver-headquartered Canadian corporation established in 1913 (and known as Teck Cominco Limited until its 2009 rebranding), stands as a significant entity in the natural resources industry. The company's global operation...
How the Company Makes Money
Teck Resources makes money primarily by producing and selling mined commodities—most notably copper and zinc (and, historically and/or through ongoing interests, steelmaking coal). Its revenue model is largely commodity-based: it extracts ore, proces...
Teck Resources Earnings Call Summary
The call was strongly positive overall. Teck reported substantial earnings and cash flow growth, record copper pricing, higher copper production, lower copper and zinc cost guidance, balance sheet improvement, continued merger progress, and advancement of major growth and infrastructure projects. These strengths outweighed the stated challenges, including severe weather disruptions, lower zinc production at certain operations, higher zinc unit costs, the Highland Valley strike, the outstanding Chinese regulatory approval, and the Antamina fatality.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Teck expects merger completion within 12-18 months of its September 2025 announcement, approximately 11 trading days from fulfillment or waiver of the remaining applicable precedent conditions; 2026 annual production and capital expenditure guidance is unchanged, while copper net cash unit costs are now expected to be between $1.80 and $2 per pound and zinc net cash unit costs between $0.30 and $0.40 per pound. QB is expected to produce between 200,000-235,000 tons this year, Highland Valley is expected towards the high end of 115,000-135,000 tons, Antamina within 95,000-105,000 tons, and Carmen de Andacollo at the low end of 45,000-55,000 tons; 2026 zinc in concentrate production is expected at the high end of 410,000 to 460,000 tons, refined zinc production at Trail at the high end of its guidance, and Red Dog sales between 65,000 and 75,000 tons in Q4 2026. Teck expects to complete all near-term TMF development objectives by the first quarter of 2027, including commissioning the secondary cyclone system, construction of Rock Bench 6, and installation of the permanent TMF pipeline infrastructure; Highland Valley project capital guidance remains CAD 900 million-CAD 1.2 billion for 2026 and CAD 2.1 billion-CAD 2.4 billion in total.
Teck Resources Financial Statement Overview
Summary
Financials show a strong TTM upswing with meaningfully improved profitability (gross ~39%, net ~25%) and ~8% revenue growth, plus moderate leverage (~0.33x debt/equity) and better returns (~14%). The main offsets are cyclical earnings volatility and less consistent cash conversion, with FCF only ~40% of net income in TTM and prior-year negative FCF highlighting swing risk.
Income Statement
78PositiveBalance Sheet
74PositiveCash Flow
63Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.12B | 10.75B | 9.06B | 6.48B | 17.32B | 12.77B |
| Gross Profit | 5.91B | 2.35B | 1.61B | 1.11B | 8.57B | 5.21B |
| EBITDA | 8.39B | 4.37B | 1.78B | 861.00M | 8.22B | 6.16B |
| Net Income | 3.81B | 1.40B | 406.00M | 2.41B | 3.32B | 2.87B |
Balance Sheet | ||||||
| Total Assets | 50.26B | 45.40B | 47.04B | 56.19B | 52.36B | 47.37B |
| Cash, Cash Equivalents and Short-Term Investments | 6.68B | 5.01B | 7.59B | 744.00M | 1.88B | 1.43B |
| Total Debt | 9.76B | 10.39B | 9.96B | 11.09B | 10.02B | 9.33B |
| Total Liabilities | 20.10B | 19.41B | 19.94B | 27.90B | 25.85B | 23.59B |
| Stockholders Equity | 29.18B | 25.08B | 26.08B | 26.99B | 25.47B | 23.00B |
Cash Flow | ||||||
| Free Cash Flow | 2.08B | -1.02B | 155.00M | -256.00M | 2.52B | 105.00M |
| Operating Cash Flow | 5.14B | 1.04B | 2.79B | 4.08B | 7.98B | 4.74B |
| Investing Cash Flow | -2.80B | -2.00B | 6.17B | -4.76B | -5.68B | -4.82B |
| Financing Cash Flow | -549.06M | -1.32B | -2.56B | -469.00M | -1.99B | 1.06B |
Teck Resources Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TECK.B, the sentiment is Negative. The current price of 84.51 is below the 20-day moving average (MA) of 90.60, below the 50-day MA of 92.68, and above the 200-day MA of 83.83, indicating a neutral trend. The MACD of -1.96 indicates Positive momentum. The RSI at 40.06 is Neutral, neither overbought nor oversold. The STOCH value of 52.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TECK.B.
Teck Resources Peers Comparison
Overall Rating
TSE:AFM85Outperform- TSE:TECK.B69Neutral
TSE:IVN51Neutral
TSE:SKE51Neutral
TSE:LAC38Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:AFM | 85Outperform | CAD 1.61B | 6.19 | 47.01% | 20.80% | 45.38% | 86.16% |
| TSE:TECK.B | 69Neutral | CAD 41.46B | 10.87 | 14.09% | 0.59% | 44.25% | 220.56% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| TSE:IVN | 51Neutral | CAD 12.89B | 66.63 | 2.32% | ― | 168.44% | -66.54% |
| TSE:SKE | 51Neutral | CAD 4.69B | -18.16 | -166.74% | ― | ― | -36.42% |
| TSE:LAC | 38Underperform | CAD 1.03B | -5.16 | -9.05% | ― | ― | -107.51% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:TECK.B | Teck Resources | 84.51 | 24.91 | 41.79% | |
| TSE:IVN | Ivanhoe Mines | 9.04 | -4.58 | -33.63% | |
| TSE:AFM | Alphamin Resources | 1.25 | 0.41 | 48.63% | |
| TSE:SKE | Skeena Resources | 37.42 | 14.55 | 63.62% | |
| TSE:LAC | Lithium Americas Corp. | 2.83 | -4.34 | -60.53% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 30, 2026