TSE:TECK.B

Teck Resources Ltd. (B) (TECK.B.TO)

78.42
-2.95 (3.63%)
as of Jul 16, 2026, 7:59:59 pm Market Open.
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Investor Insights
star iconJul 16, 2026, 12:00 am

This summary was created by AI, based on 12 opinions in the last 12 months.

Teck Resources Ltd. is currently navigating a complex landscape due to its proposed merger with Anglo American, which some analysts view as a beneficial move for the company, especially in solidifying its position in the copper market. While various experts display optimism about the potential synergy and long-term benefits of the merger, concerns about execution risks and recent operational challenges, particularly with the QB2 mine, persist. There is a general belief in the substantial demand for copper, with its price fluctuations influencing the stock's performance. Most experts suggest holding the stock rather than chasing it after a recent run-up, emphasizing caution and the potential for better entry points post-merger completion.

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Consensus
Hold
valuation icon
Valuation
Fair Value
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FM.TO
WATCH
It is on his radar as a buy but he has not purchased it yet. A positive decision on tariffs with China should get you to $36.
COMMENT
Considering the China-US trade war So far, there hasn't been a direct impact. TECK is one of the biggest suppliers of coal to China. If China is truly slowing down and the war gets worse, yes NTR will be hit. It's a good name long term, but don't be too aggressive with this now. It comes down to how the global economy fares going forward,
TOP PICK
The space is good and this one has done a good job on their balance sheet. It is more of a trade than an investment. Buy it when it is down and sell it when it is up. If it got up there he would look at selling it. So much of it is managing the debt part of the equation. They have done a good job of fixing the debt problem. (Analysts’ price target is $40.46)
DON'T BUY
He has not done well owning this in the past. As coal, zinc and other commodity producer it does well when these prices go up. Commodities are also tied to US currency and that is has been a challenge. He worries about the economic slowdown in China. In 2008 there were worries it might fail, but now that its debt is of financial grade, but it is not enough to bring him back as a buyer. (Analysts’ price target is $40.00)
PARTIAL BUY
In a good position now. Commodity companies valuations and multiples are very low. But ask what is the stability of earnings. TECK is well positioned, balance sheet's in better shape. Good exposure to copper and coal. Multiples are attractive enough that long-term investors can start to chip away at it.
TOP PICK
It has the best chart of all the base metals. We are chewing though the resistance from the downtrend in November. It has an excellent balance sheet. (Analysts’ price target is $40.92)
COMMENT
Hudbay vs Teck. These are two different companies. Teck being more focused on coal, copper and zinc. Hudbay is more copper and zinc. He would prefer Teck. As these do not provide any yield, he does not stay on top of these ones. He would stay on the sidelines for these given the trade issues globally. The next Presidential election will likely help define the future -- it will be uncertain until then. China will continue to be a big consumer and supply is being curtailed at these low commodity prices. The inventory situation will be improving over time, but it is still too early.
DON'T BUY
Industrial commodities, which are linked to growth in EM and China, which is slowing down. So that's why copper prices are plumbing lows, and gold is lukewarm. Until global production has bottomed or is accelerating, he'd be wary of buying a deep cyclical like this one.
BUY
They are cleaning up their balance sheet. They can do share buybacks and raise dividends. It's held up well since October in this down market. Safe business. He recently bought it.
TOP PICK
Great balance sheet. How the US-China trade war resolves will have a huge effect on TECK. If it breaks above $32, then it could revisit $40. Almost $2 billion in free cash flow. Strong upside potential from $40-60 if it breaks through. (Analysts’ price target is $39.86)
DON'T BUY
Has copper, zinc and oil exposure. She's not buying resources, because of global uncertainty. China is a big buyer of these. TECK is good at paying down their debt, though. Wait to see how the tarriffs play out.
DON'T BUY
It's exposed to cyclical, industrial commodities. TECK produces metallurgical coal, steel and copper. They also have a stake in the Ft. Hills Oil Sands project. All these are tied to industrial production. World demand for these commodities could decrease in 2019. Given TECK's operating leverage, a 1-2% move in commodity prices could hurt their earnings 5-10%.
DON'T BUY
Volatile. You gotta be brave to invest in this. It's 100% dependent on commodity prices. He doesn't like that. He owns no minerals.
WAIT
This is a tough case. He likes the company and the results have been good. It looks quite cheap. The underlying commodities, zinc and copper, are just so low. He would be more comfortable if there was firming in the commodity pricing.
TOP PICK
Best risk-to-reward in the metal companies. Had $1.5 billion in cash. Trading at 3x enterprise value vs. peers at 5.7x. Its growing copper business will accelerate in the next year as it lowers costs. It's had a good move over the past two years. It's held very well in this space. Seasonality is in its favour, too. It's in a bullish pattern and it will be great if it breaks above $38. (Analysts’ price target is $40.04)
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