Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 27 May, 26 | TECK | Buy | USD 65.21 | USD 68.48 | USD 72.0 | 5 days | Closed |
5.01%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen. It also produces lead, silver, and molybdenum; and various specialty and other metals, chemicals, and fertilizers. In addition, the company explores for gold. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.
Increase in Adjusted EBITDA: CAD 2,088 Mn in Q1FY26 vs CAD 927 Mn in Q1FY25
Increase in Revenue: CAD 3,943 Mn in Q1FY26 vs CAD 2,290 Mn in Q1FY25
Decline in Finance Income: CAD 46 Mn in Q1FY26 vs CAD 91 Mn in Q1FY25
Increase in Property, Plant and Equipment Expenditures: CAD 593 Mn in Q1FY26 vs CAD 332 Mn in Q1FY25
Teck remains exposed to commodity price volatility, geopolitical disruptions, fuel and freight cost inflation, regulatory approval risks related to the Anglo American merger, and operational execution risks across its large-scale copper growth projects
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 65.21 | 58.7 | 68.48 | 72.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Record Copper Sales and Strong Commodity Pricing: Teck Resources delivered a robust first quarter of 2026, supported by record copper sales volumes, elevated copper and zinc prices, and improved by-product revenues. Revenue increased significantly to CAD 3.94 billion, while adjusted EBITDA more than doubled to CAD 2.09 billion, reflecting strong operational execution across its copper and zinc businesses.
Quebrada Blanca Drives Copper Growth: The Quebrada Blanca (QB) operation remained the key growth driver, achieving record quarterly copper sales of 70,300 tonnes and maintaining stable production despite a planned maintenance shutdown. Enhanced operational discipline, higher throughput, and improved reliability supported production stability, while lower unit costs strengthened profitability across the copper segment.
Zinc Segment Delivers Higher Profitability: The zinc business reported substantial earnings improvement, benefiting from higher zinc prices, stronger by-product contributions, and optimized feed strategies at Trail Operations. Gross profit before depreciation and amortization in the zinc segment rose sharply, supported by improved refined zinc production and enhanced cash flow generation initiatives.
Strong Balance Sheet and Cash Generation: Teck generated operating cash flow of CAD 1.02 billion during the quarter, significantly improving its net cash position. The company ended the period with CAD 5.4 billion in cash and maintained liquidity of approximately CAD 9.8 billion, providing financial flexibility to support ongoing growth projects and strategic initiatives.
Strategic Growth and Merger Progress: The company continued advancing its copper growth pipeline through investments in the Highland Valley Copper Mine Life Extension, Zafranal, and San Nicolás projects. In parallel, progress toward the proposed merger with Anglo American remained on track, with shareholder approvals secured and regulatory processes continuing, positioning the combined entity for long-term critical minerals leadership.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Teck Resources Limited (NYSE: TECK) at the closing market price of USD 65.21, as on 26 May,2026
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Other Industrial Metals & Mining
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| TECK Teck Resources Ltd Class B |
- -% | 64.36 | 13.36 | 9.18 | 1.57 | 1.06 | 2.04 | 5.11 |
| BHPLF BHP Group Limited |
- -% | 44.00 | 19.59 | 15.20 | 3.72 | 3.95 | 4.00 | 7.44 |
| BHP BHP Group Limited |
-2.49 2.76% | 87.87 | 19.28 | 15.06 | 3.66 | 3.92 | 3.99 | 7.42 |
| RTNTF Rio Tinto Group |
- -% | 129.57 | 17.11 | 11.85 | 2.81 | 2.79 | 2.88 | 7.27 |
| RTPPF Rio Tinto Group |
- -% | 98.19 | 14.16 | 9.87 | 2.26 | 2.29 | 2.35 | 5.93 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on May 27, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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