Teck ResourcesTECK
About: Teck is a base metals miner with copper and zinc operations in Canada, the United States, Chile, and Peru. After selling its metallurgical coal business, copper is now its major commodity by EBITDA contribution, followed by zinc. Teck is a top-three zinc miner. Its major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, will drive an increase in Teck's attributable copper production by roughly 75%. Along with a number of additional copper growth options, Teck's strategy is to rebalance its portfolio to low-carbon metals such as copper. It sold its oil sands business in early 2023 and its coal business in mid-2024.
Employees: 12,600
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
189% more call options, than puts
Call options by funds: $692M | Put options by funds: $240M
36% more first-time investments, than exits
New positions opened: 83 | Existing positions closed: 61
16% more repeat investments, than reductions
Existing positions increased: 198 | Existing positions reduced: 170
6% more capital invested
Capital invested by funds: $16.1B [Q2] → $17.1B (+$1.01B) [Q3]
5% more funds holding in top 10
Funds holding in top 10: 19 [Q2] → 20 (+1) [Q3]
4% more funds holding
Funds holding: 509 [Q2] → 531 (+22) [Q3]
1.44% less ownership
Funds ownership: 65.7% [Q2] → 64.26% (-1.44%) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
JP Morgan Bill Peterson 38% 1-year accuracy 10 / 26 met price target | 33%upside $55 | Overweight Maintained | 25 Oct 2024 |
Deutsche Bank Abhi Agarwal 0 / 0 met price target | 21%upside $50 | Hold Downgraded | 25 Oct 2024 |
Financial journalist opinion
Based on 3 articles about TECK published over the past 30 days
