Teck Resources Limited research snapshot
TECK AI stock analysis currently describes Teck Resources as a copper and zinc miner that just delivered record second quarter earnings, with Quebrada Blanca in its third consecutive quarter of stable performance and a merger of equals with Anglo American advancing toward a closing expected between September 2026 and March 2027. At the August 2, 2026 data cutoff, the latest regular-session close was $60.24 on July 31 and the matching market-cap calculation was $29.55 billion versus $29.50 billion reported. The TECK AI stock forecast is scenario-based because copper prices that averaged about US$6.05 per pound in Q2 2026, Quebrada Blanca performance, the tailings facility program, the Anglo American merger, and capital allocation can change earnings and valuation quickly. This information is for research only and is not investment advice.
Current price
$60.24
Market cap
$29.50 billion verified market cap
AI score
66 / 100
Rating
Copper and zinc miner with record reported earnings at peak copper prices; the commodity cycle and the Anglo American merger now drive the risk and return profile
Trend status
The July 31, 2026 close of $60.24 sits above the 200-day average near $53.58 but below the 50-day average near $61.29, with the $71.25 52-week high and the $30.98 52-week low framing a wide range
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Teck sells copper and zinc concentrates and refined metals into electrification, grid, construction, manufacturing, and industrial supply chains. Cash flow is tied to physical assets and commodity prices rather than recurring customer contracts. | High |
| Moat | The moat comes from scarce long-life ore bodies, permits, processing and logistics infrastructure, technical mining know-how, and long development timelines. Teck does not control copper or zinc pricing. | High |
| Management | CEO Jonathan Price and the operating team delivered record Q2 2026 results and three straight quarters of QB stability. The future Anglo Teck executive team has been announced with Duncan Wanblad as CEO designate, so integration and key-person transition are now the focus. | Medium |
| Financial trend | TTM revenue was C$13.991 billion and TTM net income was C$2.498 billion on StockAnalysis data. Q2 2026 adjusted EBITDA was C$2.193 billion, and net cash was C$1.244 billion at June 30, 2026. | High, with currency context |
| Valuation | At the $60.24 July 31 close, TTM EPS of $3.59 implies 16.77x earnings, forward PE is 15.57, PB is 1.47, and EV/EBITDA is 7.12. The dividend yield is 0.60% and the consensus analyst target sits near $53.68. | Medium-high |
| Technical trend | The stock is up about 87% over 52 weeks and closed below the 50-day average near $61.29 while holding above the 200-day average near $53.58, with RSI around 52. | Medium |
| Risk level | Risks include copper and zinc price reversal from record levels, Quebrada Blanca tailings and ramp execution, Chile and Peru operating exposure, permitting, safety, cost inflation, and merger approval and integration risk. | High |
| AI confidence | Reported data are rich and cross-checked across company releases, StockAnalysis, and Macrotrends. Forecast confidence is lower because commodity prices, operations, approvals, and merger outcomes can shift quickly. | High data confidence |
| Investment certainty | Teck offers copper leverage with proven operational progress and a net-cash balance sheet, but it is not a predictable compounder and the current price already reflects record copper economics. | Medium-low |
TECK AI stock forecast
The TECK AI stock forecast uses the $60.24 July 31, 2026 close, TTM EPS of $3.59, and a three-year scenario model. The mechanical model outputs are about $105 in the bullish case, $60 in the base case, and $21 in the bearish case. These are scenario illustrations, not price promises, because copper prices, Quebrada Blanca performance, and the Anglo American merger can move earnings and valuation quickly.
$95 to $110
More likely if copper prices stay near or above US$5.50 per pound, Quebrada Blanca reaches steady-state performance, production and costs meet 2026 guidance, the Anglo American merger closes by early 2027 with the planned synergies, and investors assign roughly a 19 to 20 times forward earnings multiple.
$50 to $68
More likely if copper prices normalize toward US$4.50 to US$5.00 per pound, copper production lands inside the 455,000 to 530,000 tonne guidance, the merger closes but integration is gradual, and the market values Teck near a 15 to 16 times multiple on mid-cycle earnings.
$18 to $28
More likely if copper prices fall below US$4.00, Quebrada Blanca has a tailings or operational setback, costs rise, the merger is delayed or fails, and investors apply a 10 to 11 times multiple to cyclically depressed earnings.
TECK AI technical analysis
TECK AI technical analysis uses the latest regular-session reference available at the August 2, 2026 cutoff: a $60.24 close on July 31. This page does not replace a current chart feed, so the levels below are review zones rather than trading signals. Confirm the latest close, volume, moving averages, and copper price action before taking risk.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $60.24 on July 31, 2026 | StockAnalysis listed this NYSE regular-session close. It is the reference used in the valuation and scenario table. |
| Near support | Recent session low near $59.97 | StockAnalysis listed $59.97 as the July 31 session low. Treat it as a review zone rather than a guaranteed floor. |
| Near resistance | Recent session high near $62.56 | A sustained move through the latest session high needs volume and copper price confirmation, with the $71.25 52-week high further above. |
| Moving averages | 50-day near $61.29 and 200-day near $53.58 | Price sits below the 50-day average and above the 200-day average, a mixed but not broken structure. Rising averages add trend evidence. |
| Momentum | RSI near 52 | Momentum reads neutral. Watch for divergence around support or resistance because a commodity equity can stay extended for long periods. |
| Volume | 20-day average near 3.6 million shares | The July 31 session traded about 4.6 million shares. Higher-volume acceptance above resistance or below support is more informative than an isolated move. |
| Volatility | $30.98 to $71.25 52-week range, beta 1.59 | The range shows sensitivity to commodity markets, operating updates, and merger news. The stock is up about 87% over 52 weeks. |
| Invalidation | Sustained break below the 200-day average near $53.58 on rising volume | A close below that zone would signal a deeper pullback. Refresh the live chart and fundamental inputs before defining a stop. |
TECK AI trading strategy
The TECK AI trading strategy is a general monitoring framework, not personalized investment advice. It combines price structure with copper and zinc prices, Quebrada Blanca output, recoveries and costs, tailings program progress, production guidance, net cash, dividend and buyback activity, merger approvals, and Anglo Teck integration milestones.
Use a trend framework if TECK reclaims and holds the 50-day average near $61.29 with confirming volume, copper prices stay supportive, and Quebrada Blanca disclosures remain on plan. A measured breakout toward the $71.25 52-week high would need the same confirmation.
A failed breakout or a sustained close back below the 200-day average near $53.58 calls for reassessment, especially if copper weakens, operations miss guidance, or the merger timetable slips.
If TECK pulls back while asset performance, the net-cash balance sheet, and merger economics remain intact, compare the revised valuation with normalized earnings rather than buying only because the share price is lower.
Avoid treating every pullback as value if earnings expectations decline, copper prices keep falling, QB performance deteriorates, or regulatory and integration risks increase.
Track copper and zinc prices, QB production, recoveries, net cash unit costs and the tailings facility program, Highland Valley and Red Dog performance, safety, capex, net cash, dividends and buybacks, the 2026 guidance of 455,000 to 530,000 tonnes of copper, merger approvals, and Anglo Teck synergy and leadership milestones.
Position sizing should reflect commodity, operating, jurisdictional, and merger risk. Teck is not a guaranteed dividend payer or a substitute for a low-volatility asset.
Investment research summary
Customers pay Teck for copper and zinc products that feed electrification, grids, construction, manufacturing, and industrial supply chains. The company turns ore bodies, permits, processing, infrastructure, and operating expertise into commodity-linked cash flow.
Teck has long-life resource positions led by Quebrada Blanca, Antamina, Highland Valley, and Red Dog, plus operating knowledge, logistics, permits, and high barriers to developing replacement mines. These advantages support cost and supply resilience but cannot remove commodity cycles.
The biggest failure path is copper price normalization from record levels near US$6 per pound. The thesis can also fail through Quebrada Blanca tailings or ramp setbacks, safety events, cost inflation, Chilean or Peruvian regulatory changes, a delayed or failed merger, or integration that does not deliver the stated synergies.
Management delivered record Q2 2026 results and three consecutive stable quarters at QB. The next test is closing the Anglo American merger and executing integration while keeping capital allocation disciplined, and the announced leadership transition creates both opportunity and key-person risk.
Copper demand is supported by electrification, transmission, grid investment, and industrial activity, and the merger would create one of the largest copper producers with more than 70% copper exposure. The counterweight is that commodity supply and demand remain cyclical, and a long-run copper narrative does not protect against timing or execution errors.
At $60.24, the market price already reflects record copper economics, strong reported earnings, and merger expectations. Margin of safety is limited unless copper prices stay high, QB keeps improving, and the merger closes and integrates well; a normal commodity cycle would bring earnings and the multiple lower.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| NYSE price and market-cap verification | $60.24 July 31 close x 490.60 million shares = $29.55 billion, versus $29.50 billion reported, a 0.17% variance | StockAnalysis TECK statistics | August 2, 2026 |
| FY2025 revenue | US$7.698 billion on Macrotrends, with the C$10.756 billion StockAnalysis standardized figure used as the independent cross-check. The sources use different display currencies, so the page retains the USD figure for comparison. | Macrotrends TECK revenue | August 2, 2026 |
| FY2025 net income | US$1.003 billion on Macrotrends, versus C$1.401 billion on the StockAnalysis cross-check, a difference below 0.1% after currency conversion. | Macrotrends TECK net income | August 2, 2026 |
| Q2 2026 results | C$3.605 billion revenue, C$854 million profit attributable to shareholders, C$2.193 billion adjusted EBITDA, C$948 million adjusted profit, and C$1.7 billion cash flow from operations. Copper prices averaged US$6.05 per pound and copper production was 135,900 tonnes, up 25% year over year. | Teck Q2 2026 results | August 2, 2026 |
| Balance sheet at June 30, 2026 | C$6.052 billion cash and cash equivalents, C$4.808 billion total debt including leases, and C$1.244 billion net cash, with total liquidity of C$10.3 billion. | Teck Q2 2026 results | August 2, 2026 |
| 2026 guidance | Copper production of 455,000 to 530,000 tonnes, zinc production of 410,000 to 460,000 tonnes, and copper net cash unit costs of US$1.85 to US$2.20 per pound, unchanged from prior disclosure. | Teck Q2 2026 results | August 2, 2026 |
| Anglo American merger status | Merger of equals announced September 9, 2025 to form Anglo Teck plc; shareholders approved December 9, 2025; Investment Canada Act approval received December 15, 2025; future executive leadership team announced July 30, 2026; closing expected between September 2026 and March 2027 subject to final regulatory approval, with about US$800 million of planned pre-tax synergies. | Teck Q2 2026 results and Anglo Teck leadership release | August 2, 2026 |
This page is an informational research tool, not investment advice, a recommendation, or a solicitation to buy or sell securities. Forecast ranges are scenario illustrations based on available data and may be wrong. Verify primary sources and consider independent professional advice before making an investment decision.
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