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Teck Resources Ltd Class B TECK.B Stock Quote

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Morningstar‘s Stock Analysis TECK.B

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Is it the right time to buy or sell?

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Teck's FVE Lowered to USD 25.50 on Lower Forecast Metallurgical Coal Sales, QB2 Cost Increases

Jon Mills, CFA Equity Analyst

Business Strategy and Outlook

| Jon Mills, CFA |

China plays a defining role for Teck as the biggest buyer of everything the company digs out of the ground: metallurgical coal, copper, zinc, and lead. With the exception of lead, demand for these commodities is tied to fixed-asset investment. We expect a rebalancing of China's economy from investment to household consumption will mean weaker demand growth for investment-oriented commodities and lower prices than the favourable 2021 levels.

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Key Statistics TECK.B

Company Profile TECK.B

Business Description

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world's second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%. Along with a number of additional copper growth options, Teck’s strategy is to rebalance its portfolio to low carbon metals such as copper.

550 Burrard Street, Suite 3300
Vancouver, BC, V6C 0B3, Canada
T +1 604 699-4000
Industry Other Industrial Metals & Mining
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 10,600