AllAnalyst Report
logoMorningstarMarch 01, 2024

Teck Resources Limited: Teck Resources Earnings: Metallurgical Coal Dominates Again, but the Future Is All About Copper

Symbols
TECK
Sector(s)
Basic Materials
Rating
Current Price
$50.38
Fair Value
Economic Moat
Stewardship
Summary

Teck is a diversified miner with coal, copper, and zinc operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, followed by copper and zinc. Teck is the world's second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. Its major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, will drive an increase in Teck’s attributable copper production by roughly 75%. Along with a number of additional copper growth options, Teck’s strategy is to rebala

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