
Overview
Canada mining firm's Q4 revenue rose, beating analyst expectations
Adjusted EPS for Q4 beat analyst expectations
Company advanced merger with Anglo American, securing shareholder and regulatory approvals
Outlook
Teck reaffirms 2026 guidance for copper and zinc production and costs
Teck expects 2026 zinc in concentrate production at Antamina between 35,000 and 45,000 tonnes
Merger with Anglo American expected to deliver US$800 mln annual pre-tax synergies
Result Drivers
HIGHER COPPER PRICES - Teck's Q4 results were driven by significantly higher copper prices, averaging US$5.03 per pound, contributing to increased revenue and gross profit in the copper segment
QUEBRADA BLANCA RAMP-UP - Continued ramp-up at QB with improved production and tailings management supported higher copper output, contributing to strong quarterly performance
MERGER PROGRESS - Teck advanced its merger with Anglo American, receiving shareholder and regulatory approvals, positioning for future growth as a top-five copper company
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | C$3.06 bln | C$3.01 bln (8 Analysts) |
Q4 Adjusted EPS | Beat | C$1.37 | C$0.91 (12 Analysts) |
Q4 Adjusted EBITDA | Beat | C$1.51 bln | C$1.32 bln (13 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 9 "hold" and no "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$74.50, about 8.4% below its February 18 closing price of C$81.34
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 28 three months ago
Press Release: ID:nGNXc3PRr0
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