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TSE:TECK.B

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

97.77
-0.99 (1.00%)
as of Aug 27, 2026, 7:59:59 pm Market Open.
551 watching
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Investor Insights
star iconAug 27, 2026, 12:00 am

This summary was created by AI, based on 11 opinions in the last 12 months.

Teck Resources Ltd. (TECK.B-T) is currently engaged in a noteworthy merger with Anglo American, which has prompted mixed opinions among analysts. Some experts express optimism about the collaboration, particularly regarding the potential for enhanced copper production and reduced geopolitical risks, making it an attractive option for institutional investors in the long run. However, others raise concerns about execution risks, the lack of consistent returns in resource stocks, and the dependency on volatile commodity prices. Additionally, the planned merger has led to upcoming votes and speculation surrounding potential fluctuations in stock performance, dependent on commodity prices like copper. Overall, while there are expectations for growth, analysts advise caution in buying at current levels due to recent stock price increases.

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Consensus
Hold
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Valuation
Fair Value
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BHP, BHP
PAST TOP PICK
(A Past Top Pick. Jan 10/07. Down 10.1%.) Base metals have been remarkably volatile in the last little while. From his point of view, you have to own these stocks. Thinks it has been oversold and is a buying opportunity.
BUY
Starting to worry about a stagflation environment. Mining shares would be an area that would generally do well so having money in this area would be a good idea. Good assets.
COMMENT
Down for 2 reasons. 1) Has been caught up in the commodities correction. 2) Has had some cost overruns and they have had to push off some projects. Good quality company that is just facing a tough environment that should amend itself in the 2nd half of 08.
PARTIAL BUY
Think it has found a bit of a bottom here. Getting caught up in what is called the industry affect. In this case, commodities where really overbought. On the down side, it could drop $2. Metals are risky right now. You have to get out of it if it hits $32. You can buy a small position now and if it hits $35 you add some more and if it hits $40 you add again.
COMMENT
Short-term, he is somewhat bearish on metal pricing because of the weakening global economy. 2.5% yield and trades at 8X consensus earnings. Also have exposure through coal (Partnered with Fording Coal (FDG.UN-T)) and the oil sands. If you are bullish on base metals, this is a great holding.
HOLD
Likes most of the fundamentals for the stock. One of the issues that he has is that they have made a couple of bad acquisitions, which has hurt the stock. Zinc, coal, their interest in the oil sands are all good things for this company. Would be an aggressive buyer at $30.
BUY
Had a couple of disappointments, the most recent the shelving of the joint Galore Creek venture. Strong balance sheet and a well-diversified portfolio. Coal prices look to be fairly favourable in the longer term. Good price.
TOP PICK
Re-evaluating their position with respect to Fording (FDG.UN-T), in particular with regards to the Elk assets.
TOP PICK
(His 3 Top Picks will not give you instant gratification, but are to be held for 1, 2, 3 years.) Has been hurt recently because 1) it is not a takeover candidate and 2) a major project, Galore Creek was cancelled because of costs.
COMMENT
FMV is about 4X the current price. This would normally make it awfully good value, but it does not behave well technically and he wonders if the market is expecting a recession. Commodity prices and earnings forecasts are holding up well. Can't see any reason not to like it but it doesn't act well.
BUY
Very inexpensive. Has been oversold. Base metal story is not a one-month story. Thinks demand from Asia for commodities is going to continue to grow.
HOLD
Suspended operations at Galore Creek’s massive gold/copper project because of high capital costs. Stock was hit hard. This is the only real major mining company left in Canada.
TOP PICK
Pulled the plug on Galore Lake and he feels they did the right thing. If the cost is out of line, pull back and wait.
DON'T BUY
Growth in China has been focused on infrastructure and plant capacity. Capacity is well in excess of demand, both domestically and exports and growth can go down by 2%. If this happens, he can’t see base metal prices doing very much.
COMMENT
Back in 2003 it was a $5 stock and rose to $50. As the stock price went up, institutions had to sell when it became too big a portion of their portfolios. Recently corrected and has gone through a 3 leg correction. Probably getting very close to the end of it. Somewhere around $35 - $37 it may be a good buying opportunity. Would really like to see the stock get momentum very shortly.
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