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研究快訊:泰克資源第一季業績超預期,銅礦營運強勁,價格走強

-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下:泰克資源公司公佈了2026年第一季強勁的業績,調整後每股收益為1.75加元,顯著高於2025年第一季的0.60加元和市場普遍預期的1.12加元。營收年增72%至39億加元,調整後EBITDA達到21億加元(+125%),分別超出市場普遍預期22%和36%,這反映了營運槓桿效應,受益於銅價走強,倫敦金屬交易所(LME)銅均價為5.83美元/磅(年增38%)。這些業績驗證了公司在剝離煤炭業務後的獲利能力,並表明在與英美資源集團合併完成之前,公司營運執行力正在不斷提升。管理層重申,奎布拉達布蘭卡(QB)礦區將於2026年底實現穩定運營,QB礦區銅銷量創下7.03萬噸的歷史新高。我們預計,隨著TMF計畫的推進,產能限制將在2026年下半年逐步緩解。公司擁有98億加幣的充裕流動資金,足以支持成長資本支出。同時,英美資源集團的合併已獲得股東和加拿大政府的批准,剩餘審批工作正按計畫進行。

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