Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1970.4%
Neutral622.2%
Bearish27.4%
Teck Resources Limited · TECK · FY2026 Q1 · Calendar Q2 2026
Teck's Q1 strength supports merger and project execution, but risks remain
Teck's Q1 execution and copper exposure strengthened the near-term operating case, while merger, project, regulatory and commodity risks keep the outlook conditional.
Reported Before market openNYSEBasic Materials
$29.27B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.20
Consensus $0.80
EPS surprise
+49.6%
Reported versus consensus
Reported revenue
$2.83B
Consensus $2.32B
Revenue surprise
+21.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.5%
Event window
SPY move
-0.4%
Same window
Abnormal move
+2.9%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+3.7%
Up to 20 sessions
TECKSPY benchmark
Ask FN2 about TECK FY2026 Q1
Transcript, numbers and history already loaded
Why did TECK rise 2.5% after beating EPS estimates in FY2026 Q1?What changed in TECK's guidance and outlook in FY2026 Q1?Give me the bull and bear case for TECK after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Q1 adjusted EBITDA more than doubled year over year to $2.1 billion, supported by record copper sales and higher commodity prices. Rock Bench 4 was completed at QB, Highland Valley work advanced, South Korea approved the merger, and China's review continued.
Guidance delta
Management maintained 2026–2028 guidance.
Key takeaways
- Record copper volumes, higher margins and stronger commodity prices drove a much stronger Q1.
- The Anglo American merger remained on track, with South Korean approval secured and China's review progressing.
- QB tailings-management work and the Highland Valley life-extension project advanced on schedule.
- Strong cash generation and liquidity supported continued dividend payments.
Management priorities
- Close the Anglo-Teck merger and progress remaining regulatory review.
- Complete Rock Bench 5 and reach steady-state QB tailings-management operations by year-end.
- Advance Highland Valley life-extension construction and procurement.
- Continue evaluating a potential Collahuasi joint venture.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$60.61Current
$27Low
$44.98Average
$68High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| StoneX | Buy | Buy | Maintain | Oct 30, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 30, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 2, 2026 |
| Benchmark | Buy | Buy | Maintain | Feb 23, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 25, 2025 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Jul 15, 2025 |
| B of A Securities | Buy | Buy | Maintain | Mar 10, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Jan 22, 2025 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Oct 8, 2024 |
| UBS | Buy | Neutral | Upgrade | Sep 4, 2024 |
| CIBC | Outperform | Outperform | Maintain | Jul 12, 2024 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Nov 10, 2023 |
| B. Riley Securities | Buy | Buy | Maintain | Oct 26, 2023 |
| BMO Capital | Market Perform | Outperform | Downgrade | Oct 28, 2022 |
| Goldman Sachs | Buy | Neutral | Upgrade | Mar 9, 2022 |
| Citigroup | Buy | Neutral | Upgrade | Sep 29, 2021 |
| Bank of America | Underperform | Neutral | Downgrade | Nov 13, 2019 |
| Macquarie | Neutral | Neutral | Maintain | Jul 11, 2019 |
| MKM Partners | Buy | Buy | Maintain | Apr 24, 2019 |
| Clarksons Platou | Neutral | Buy | Downgrade | Jan 16, 2019 |
| Clarkson Capital Markets | Neutral | Buy | Downgrade | Jan 16, 2019 |
| Seaport Global | Buy | Neutral | Upgrade | Oct 15, 2018 |
| Barclays | Overweight | Overweight | Maintain | Oct 10, 2018 |
| Axiom Capital | Sell | Sell | Maintain | Sep 18, 2017 |
| Berenberg | Buy | Hold | Upgrade | Mar 22, 2017 |
| FBR Capital | Outperform | Market Perform | Upgrade | Jan 23, 2017 |
| Canaccord Genuity | Buy | Hold | Upgrade | Dec 12, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $60.61. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Deutsche Bank | Analyst unavailable | $68 | $60.64 | +12.2% | Jul 2, 2026 |
| Deutsche Bank | Analyst unavailable | $62 | $59.03 | +2.3% | Apr 15, 2026 |
| Truist Financial | Analyst unavailable | $67 | $58.77 | +10.5% | Feb 23, 2026 |
| Deutsche Bank | Analyst unavailable | $46 | $42.2 | -24.1% | Nov 26, 2025 |
| Deutsche Bank | Liam Fitzpatrick | $42 | $35.11 | -30.7% | Sep 8, 2025 |
| TD Securities | Greg Barnes | $55.7 | $38.74 | -8.1% | Mar 7, 2022 |
| CIBC | Bryce Adams | $39.79 | $36.47 | -34.4% | Mar 1, 2022 |
| Bank of America Securities | Lawson Winder | $51.72 | $35.53 | -14.7% | Feb 28, 2022 |
| Citigroup | Alexander Hacking | $41.38 | $35.53 | -31.7% | Feb 28, 2022 |
| Barclays | Matt Murphy | $31.83 | $34.43 | -47.5% | Feb 24, 2022 |
| RBC Capital | Sam Crittenden | $41.38 | $34.43 | -31.7% | Feb 24, 2022 |
| Canaccord Genuity | Dalton Baretto | $37.4 | $30.51 | -38.3% | Jan 31, 2022 |
| Wolfe Research | Timna Tanners | $36.6 | $26.8 | -39.6% | Nov 16, 2021 |
| Benchmark Co. | Nathan Martin | $27 | $22.28 | -55.5% | Jul 28, 2021 |
Track every rating change on TECK the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationEstablished in Vancouver, Canada, in 1913, Teck Resources Limited is dedicated to the exploration, acquisition, development, and extraction of natural resources across Asia, Europe, and North America. The company organizes its operations into Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. Its diverse product offerings include steelmaking coal, copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates. Teck also produces specialized metals like indium and germanium, in addition to various chemicals and fertilizers. Furthermore, the company holds an interest in the Frontier oil sands projects located in Alberta's Athabasca region, and maintains stakes in exploration and development ventures spanning Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. Formerly operating as Teck Cominco Limited, the company officially adopted the name Teck Resources Limited in April 2009.
Historical context
All TECK earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| LYB LyondellBasell Industries N.V. | FY2026 Q3 · Calendar Q4 2026 | -1.2% | +5.0% | LyondellBasell Q3 Earnings: Strong Cash Flow, Cautious Outlook |
| VALE Vale S.A. | FY2026 Q3 · Calendar Q4 2026 | -24.6% | +1.9% | Vale balances cost resilience with iron-ore and copper execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the TECK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T18:50:41.004328+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T18:50:41.001433+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.