Teck Resources Limited

NYSE:TECK Stock Report

Market Cap: US$23.9b

Teck Resources Valuation

Is TECK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TECK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TECK ($47.21) is trading below our estimate of fair value ($52)

Significantly Below Fair Value: TECK is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TECK?

Key metric: As TECK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TECK. This is calculated by dividing TECK's market cap by their current earnings.
What is TECK's PE Ratio?
PE Ratio26.6x
EarningsCA$1.27b
Market CapCA$33.33b

Price to Earnings Ratio vs Peers

How does TECK's PE Ratio compare to its peers?

The above table shows the PE ratio for TECK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.4x
MTRN Materion
31.6x27.4%US$2.3b
GSM Ferroglobe
20.9x49.4%US$841.7m
STLD Steel Dynamics
12.6x0.3%US$21.9b
RS Reliance
16.4x-3.1%US$17.0b
TECK Teck Resources
26.6x15.9%US$33.3b

Price-To-Earnings vs Peers: TECK is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the peer average (20.4x).

Price to Earnings Ratio vs Industry

How does TECK's PE Ratio compare vs other companies in the US Metals and Mining Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VITF.F Victoria Gold
2.1xn/aUS$23.43m
BMXI Brookmount Explorations
0.6xn/aUS$5.52m
RMRI Rocky Mountain Industrials
0.9xn/aUS$1.76m
ZCRM.F Zincore Metals
0.5xn/aUS$852.33k
TECK 26.6xIndustry Avg. 19.9xNo. of Companies5PE01020304050+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TECK is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the US Metals and Mining industry average (19.1x).

Price to Earnings Ratio vs Fair Ratio

What is TECK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TECK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.6x
Fair PE Ratio24.5x

Price-To-Earnings vs Fair Ratio: TECK is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the estimated Fair Price-To-Earnings Ratio (24.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TECK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.21
US$53.05
+12.4%
15.0%US$63.13US$32.28n/a21
Nov ’25US$46.75
US$53.17
+13.7%
15.0%US$63.36US$32.40n/a21
Oct ’25US$51.88
US$54.58
+5.2%
16.0%US$65.23US$33.35n/a21
Sep ’25US$47.90
US$53.99
+12.7%
15.8%US$64.53US$33.00n/a21
Aug ’25US$47.12
US$53.80
+14.2%
15.6%US$63.52US$32.48n/a21
Jul ’25US$48.15
US$53.98
+12.1%
17.1%US$67.18US$32.86n/a17
Jun ’25US$52.05
US$53.42
+2.6%
16.8%US$67.24US$32.89n/a18
May ’25US$48.41
US$51.50
+6.4%
15.6%US$64.41US$32.94n/a18
Apr ’25US$46.26
US$46.37
+0.2%
14.1%US$57.47US$33.16n/a18
Mar ’25US$39.20
US$45.67
+16.5%
13.1%US$57.53US$33.19n/a18
Feb ’25US$40.37
US$45.88
+13.6%
12.8%US$58.26US$33.61n/a18
Jan ’25US$42.27
US$46.08
+9.0%
11.0%US$51.52US$34.22n/a16
Dec ’24US$38.85
US$46.83
+20.5%
11.0%US$51.59US$34.27n/a17
Nov ’24US$35.46
US$47.75
+34.7%
10.0%US$54.23US$36.15US$46.7516
Oct ’24US$43.09
US$49.94
+15.9%
12.0%US$59.18US$36.99US$51.8815
Sep ’24US$42.50
US$49.82
+17.2%
11.0%US$60.20US$37.63US$47.9016
Aug ’24US$43.37
US$49.82
+14.9%
11.0%US$60.20US$37.63US$47.1216
Jul ’24US$42.10
US$51.10
+21.4%
11.1%US$60.36US$37.73US$48.1517
Jun ’24US$40.96
US$50.60
+23.5%
11.4%US$59.06US$36.91US$52.0518
May ’24US$45.51
US$50.60
+11.2%
11.4%US$59.06US$36.91US$48.4118
Apr ’24US$36.50
US$47.15
+29.2%
13.5%US$55.28US$28.75US$46.2620
Mar ’24US$41.83
US$47.19
+12.8%
13.1%US$55.16US$28.68US$39.2020
Feb ’24US$43.82
US$43.85
+0.07%
13.3%US$52.68US$31.23US$40.3723
Jan ’24US$37.82
US$39.43
+4.3%
14.8%US$49.25US$24.99US$42.2723
Dec ’23US$37.75
US$38.81
+2.8%
13.6%US$47.65US$25.28US$38.8523
Nov ’23US$31.35
US$38.54
+22.9%
13.7%US$47.05US$24.96US$35.4623

Analyst Forecast: Target price is less than 20% higher than the current share price.

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