$TECK

UBS Adjusts Price Target on Teck Resources to CA$105 From CA$93, Maintains Buy Rating

Teck Resources' Marger Partner to Sell Australian Steelmaking Coal Business for Up to $3.88 Billion

Teck Resources' (TECK) merger partner Anglo American has agreed to sell its Australian steelmaking coal business to Dhilmar for cash proceeds of up to $3.88 billion, the company said Monday.The transaction includes an upfront cash payment of $2.3 billion at closing and a price-linked earnout of up to $1.58 billion, Anglo American said.The steelmaking coal portfolio includes stakes in the Moranbah North, Grosvenor, Capcoal, Dawson and other coal joint ventures in Australia.Cash proceeds from the transaction, expected to close in Q1 2027, will be used to reduce net debt, the company said.Anglo American also said it continues to pursue arbitration proceedings with Peabody Energy (BTU) related to Peabody's terminated agreement to acquire the coal portfolio.Teck Resources shares were down nearly 1% in Monday premarket trading.

Research Alert: CFRA Maintains Hold Opinion On Shares Of Teck Resources

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by USD3 to USD64, based on an EV/EBITDA of 6.8x our 2027 EBITDA estimate vs. TECK's three-year average forward EV/EBITDA of 7.2x and the peer average of 10.0x. We raise our 2026 EPS estimate by CAD0.81 to CAD4.46 and raise our 2027 EPS forecast by CAD0.85 to CAD4.90. TECK's pending merger with Anglo American remains on track for closing between September 2026 and March 2027, with regulatory approval progressing in China. The combined Anglo-Teck entity is expected to become a top-five global copper producer with ~1.2 million tonnes of annual production, growing to ~1.35 million tonnes by 2027. Management projects potential for USD800 million in annual pre-tax synergies and an additional USD1.4 billion EBITDA uplift from optimizing the adjacent QB-Collahuasi assets. TECK's 2026 copper production guidance of 455,000-530,000 tonnes is unchanged, with QB advancing toward steady-state operations as Tailings Management Facility development progresses.

Deutsche Bank Adjusts Teck Resources Price Target to $64 From $62, Maintains Buy Rating

Teck Resources Keeps Quarterly Dividend at CA$0.125 a Share, Payable June 30 to Holders of Record as of June 15

Teck Resources Keeps Quarterly Dividend at CA$0.125 a Share, Payable June 30 to Holders of Record as of June 15

Research Alert: Teck Resources Posts Q1 Beat, Strong Copper Operations And Pricing Tailwind

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Teck Resources delivered strong Q1 2026 results with adjusted EPS of CAD1.75, significantly ahead of CAD0.60 in Q1 2025 and consensus of CAD1.12. Revenue increased 72% Y/Y to CAD3.9B while adjusted EBITDA reached CAD2.1B (+125%), beating consensus by 22% and 36%, respectively, reflecting operational leverage to copper price strength with LME copper averaging USD5.83/lb (+38% Y/Y). The results validate the portfolio's earnings power following the coal divestiture and demonstrate improving operational execution heading into the Anglo American merger completion. Management reaffirmed steady-state operations at Quebrada Blanca (QB) by year-end 2026, with QB posting record copper sales of 70.3 thousand tonnes. We view production constraints should gradually diminish through 2H 2026 as TMF development progresses. The company maintains strong liquidity of CAD9.8B supporting growth capex, while the Anglo American merger has secured shareholder and Canadian approvals with remaining clearances pacing the timeline.

Teck Resources Q1 Adjusted Earnings, Revenue Rise

Teck Resources (TECK) reported Q1 adjusted earnings Thursday of 1.75 Canadian dollars ($1.28) per diluted share, up from CA$0.60 a year earlier.Analysts surveyed by FactSet expected CA$1.13.Revenue for the quarter ended March 31 was CA$3.94 billion, up from CA$2.29 billion a year earlier.Analysts polled by FactSet expected CA$3.25 billion.

Deutsche Bank Adjusts Teck Resources Price Target to $62 From $60, Maintains Buy Rating