Teck Resources (TECK)

• Market cap: $21.2B
• 1 day: 4.03%
• 5 days: 8.19%
• 1 month: -2.23%
• 3 months: -1.45%
• 6 months: -10.50%
• Year to date: 2.93%
• 1 year: -5.94%
• 5 years: 409.93%
• 10 years: 65.31%
• Sector: Materials
• Industry: Mining & Quarrying of Nonmetallic Minerals, Except Fuels

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: 7,200

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

149% more call options, than puts

Call options by funds: $450M | Put options by funds: $180M

2.55% more ownership

Funds ownership: 64.53% [Q3] → 67.08% (+2.55%) [Q4]

7% less first-time investments, than exits

New positions opened: 77 | Existing positions closed: 83

3% less funds holding

Funds holding: 535 [Q3] → 519 (-16) [Q4]

10% less repeat investments, than reductions

Existing positions increased: 162 | Existing positions reduced: 180

19% less capital invested

Capital invested by funds: $17.2B [Q3] → $14B (-$3.22B) [Q4]

25% less funds holding in top 10

Funds holding in top 10: 20 [Q3] → 15 (-5) [Q4]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $51 21% upside
• Avg. target: $58 37% upside
• High target: $64 52% upside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

B of A Securities Lawson Winder 57% 1-year accuracy 8 / 14 met price target	52% upside $64	Buy Maintained	10 Mar 2025
JP Morgan Bill Peterson 47% 1-year accuracy 17 / 36 met price target	21% upside $51	Overweight Maintained	16 Jan 2025