Teck Resources Q3 revenue rises, driven by higher copper and zinc prices

Overview

• Teck Q3 revenue rises to CAD$3.385 bln, driven by higher copper and zinc prices

• Adjusted EBITDA for Q3 increases to CAD$1.171 bln, reflecting improved profitability

Outlook

• Teck Resources maintains 2025 copper production guidance at 415k-465k tonnes

• Company anticipates 2025 zinc production between 525k-575k tonnes

Result Drivers

• HIGHER COPPER AND ZINC PRICES - Increased prices for copper and zinc drove higher revenues and profitability in Q3

• QUEBRADA BLANCA CONSTRAINTS - Copper production at QB was limited by tailings management facility development, causing additional downtime

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the diversified mining peer group is "buy"

• Wall Street's median 12-month price target for Teck Resources Ltd is C$61.00, about 1.6% below its October 21 closing price of C$60.04

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 26 three months ago

Press Release: ID:nGNX8Tg0V2

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