Scotiabank Increases Earnings Estimates for Teck Resources

Key Points

• Scotiabank raised its FY2026 EPS estimate for Teck to $3.09 (from $2.76) but kept a "Sector Perform" rating, versus the consensus full‑year estimate of $2.68.
• Teck recently beat quarterly expectations, reporting $0.98 EPS versus a $0.59 consensus and revenue of $2.23 billion, up 9.8% year‑over‑year.
• Analyst coverage is mixed with an average rating of "Hold" and an average price target of $59.67, while institutional ownership is high (78.06%) and includes large buys such as Norges Bank's ~$404.9 million stake.

Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK - Equities researchers at Scotiabank lifted their FY2026 EPS estimates for Teck Resources in a research report issued on Friday, April 17th. Scotiabank analyst O. Wowkodaw now expects that the basic materials company will post earnings of $3.09 per share for the year, up from their prior forecast of $2.76. Scotiabank currently has a "Sector Perform" rating on the stock. The consensus estimate for Teck Resources' current full-year earnings is $2.68 per share.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. Teck Resources's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share.

TECK has been the subject of a number of other reports. Weiss Ratings reissued a "hold (c)" rating on shares of Teck Resources in a research note on Wednesday, January 21st. Raymond James Financial downgraded shares of Teck Resources from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 14th. Benchmark upped their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Veritas raised shares of Teck Resources from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 15th. Finally, Citigroup raised shares of Teck Resources from a "neutral" rating to a "buy" rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $59.67.

Teck Resources Trading Down 0.4%

TECK opened at $59.13 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 3.01 and a beta of 0.85. The firm has a 50 day simple moving average of $54.58 and a 200 day simple moving average of $49.13. Teck Resources has a fifty-two week low of $30.98 and a fifty-two week high of $62.41.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources's dividend payout ratio is currently 18.32%.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently made changes to their positions in TECK. Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter worth $404,880,000. Principal Financial Group Inc. increased its position in shares of Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company's stock worth $740,604,000 after acquiring an additional 4,474,637 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Teck Resources by 264.5% during the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company's stock worth $253,695,000 after purchasing an additional 4,194,868 shares during the last quarter. Pentwater Capital Management LP boosted its holdings in Teck Resources by 124.1% during the fourth quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company's stock worth $311,285,000 after purchasing an additional 3,600,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Teck Resources during the fourth quarter worth $169,999,000. Institutional investors own 78.06% of the company's stock.

Teck Resources News Summary

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Zacks Research raised multiple near‑term and medium‑term EPS forecasts (including Q1–Q3 2026 and several 2027 quarters) and lifted FY2026 and FY2027 estimates (FY2026 to $2.09; FY2027 to $2.34). Zacks also holds a "Strong‑Buy" rating — a clear catalyst for buying interest as it boosts earnings visibility.
• Positive Sentiment: Notable single‑quarter upgrades from Zacks include bigger raises to Q2 2026 (to $0.49 from $0.41) and Q3 2026 (to $0.59 from $0.52), which suggest analysts expect stronger commodity pricing or operational performance in upcoming quarters.
• Neutral Sentiment: Scotiabank raised its FY2026 EPS view materially (to $3.09 from $2.76) but kept a "Sector Perform" rating — the EPS revision is supportive, but the neutral/benchmark stance tempers the bullish signal.
• Neutral Sentiment: Third‑party comparison coverage (survey/comparison piece) is circulating but does not add new company‑specific catalysts. Comparison Article
• Negative Sentiment: Offsetting the positive revisions, Zacks slightly trimmed its Q4 2026 estimate (to $0.51 from $0.53). While small, this cut signals some near‑term uncertainty and could limit upside until quarterly results confirm the higher forecasts.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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