Update shared on31 Jul 2025
Fair value Decreased 1.01%Consensus revenue growth forecasts for Teck Resources have improved while the future P/E multiple has modestly declined, yet analyst fair value estimates remained stable at CA$58.27.
What's in the News
- Repurchased 18,324,791 shares (3.62%) for CAD 1,000 million, completing the share buyback program announced in late 2024.
- Revised 2025 copper production guidance to 470,000–525,000 tonnes (from 490,000–565,000) and molybdenum to 3,800–5,400 tonnes (from 5,100–7,400); Zinc production guidance remains at 525,000–575,000 tonnes.
- Board approved Highland Valley Copper Mine Life Extension Project, extending mine life to 2046, with average annual copper production of 132,000 tonnes and significant economic/job impacts; received Environmental Assessment Certificate and all major permits.
- Mechanical issue caused one-month shutdown at Carmen de Andacollo in Chile and shiploader outage at Quebrada Blanca port; both events expected to have no material impact on 2025 production or sales guidance due to mitigation and alternative shipping arrangements.
- Received updated baseline environmental, water quality, hydrogeological, and fish habitat studies for the Schaft Creek joint venture project, identifying certain local water quality exceedances and confirming fish presence in select areas.
Valuation Changes
Summary of Valuation Changes for Teck Resources
- The Consensus Analyst Price Target remained effectively unchanged, at CA$58.27.
- The Consensus Revenue Growth forecasts for Teck Resources has significantly risen from 4.3% per annum to 4.9% per annum.
- The Future P/E for Teck Resources has fallen slightly from 27.64x to 26.73x.
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