TSE:TECK.B

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

83.75
-6.23 (6.92%)
as of Jun 23, 2026, 2:33:58 pm Market Open.
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Investor Insights
star iconJun 23, 2026, 12:00 am

This summary was created by AI, based on 13 opinions in the last 12 months.

Teck Resources Ltd. is currently navigating a complex landscape as it prepares for a significant merger with Anglo American, which has caught the attention of various analysts. While some experts express concerns regarding execution risks and recent production challenges, particularly with the QB2 mine, many also highlight the sound fundamentals of Teck as a major copper producer. Copper demand, stoked by industries such as AI data centers, presents both opportunities and challenges, especially amid fluctuations in oil prices that could dampen overall commodity performance. The upcoming merger is anticipated to enhance Teck's standing in the copper market, with analysts noting the potential for improved valuation and reduced geopolitical risks. Overall, sentiment remains mixed as investors await the merger's outcome and assess Teck's operational stability.

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Consensus
Hold
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Valuation
Fair Value
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DON'T BUY
Getting really cheap. Question is how fast commodity prices may keep knocking earning back. It could drop as much as a third.
HOLD
With purchase of Fording, they are doubling their coal production.
BUY
Little complicated. In the middle of a takeover of Fording Coal (FDG.UN-T). Shareholders vote on the 30th. Will radically change the company. Up to now has largely been a base metal player but with the takeover it will become 50% metallurgical coal. Also have a piece of the Fort Hills oil sands project, which reported a 50% escalation in costs.
TOP PICK
Acquiring Fording (FDG.UN-T) and expects the deal will get done in spite of the current credit markets. This is the way to play the materials index right now at a fairly reasonable price. Feels cash flows will be in the neighbourhood of $6.50 this year and over $7 next year.
BUY ON WEAKNESS
Acquired Fording Coal (FDG.UN-T). Think of this as a base metals producer for the next 10 years in your portfolio. Yield is almost 3%. If commodity prices come off it may get a little cheaper. He would be very interested in the $25-$30 range.
BUY
Acquired Fording Coal (FDG.UN-T) at a very reasonable price. The only large integrated dining company left in Canada. They have nickel, copper, zinc and now coal in large quantities. Demand from Asia should continue to be strong. Good price.
COMMENT
(“A” shares vs. “B” shares.) “A” shares are the voting shares. If the controlling family ever decides to sell the company, they are entitled to a 15% premium over the rest of the shareholders.
BUY
Very bullish on this company. Zinc prices are down year-to-date but given the long-term outlook for China and metals demand it will come back. Copper is still quite strong. The real kicker is the very smart acquisition of Fording Coal (FDG.UN-T). Over the next 20 years, China is going to need 3 billion tons of steel as they build out their infrastructure, which will require a lot of metallurgical coal.
WAIT
2-1/2% dividend, complete diversification into most metals and minerals, strong management team and free cash flow yield that is much higher than gov’t bond right now. Because of fall off on commodity prices, be patient on the sidelines. Interested in $30-$35 range
PAST TOP PICK
(A Top Pick July 27/07. Down 3%.) Great Buy if it gets down to $28 and if it reaches $51, he would take some profits.
HOLD
(Market Called Minute.)
BUY
Just acquired Fording Coal (FDG.UN-T), which is due to net asset value but is hugely accretive to both cash flow and earnings.
TOP PICK
Growth potential through acquisitions and mining development. Market continues to view it as mostly zinc but is really more of a copper & coal play. Through its oil sands holdings it will also become an oil play. Likes the diversity and management.
PAST TOP PICK
(A Top Pick July 27/07. Down 8%.) His model price is $74.70, a 57% positive differential.
COMMENT
Will be a big beneficiary of higher copper prices. From a liquidity and volatility point of view it is a comfortable stock for people to own.
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