Teck Resources (TECK) Stock Forecast & Price Target

Teck Resources has significantly enhanced its operational efficiency, achieving improved mill performance with a throughput of approximately 135,000 tonnes per day and recovery rates of 82%. The Quebrada Blanca 2 project is projected to increase Teck's attributable copper production by roughly 75%, while anticipated throughput capacity improvements could exceed 50% beyond the current post-optimization levels. Furthermore, the merger agreement with Anglo American is expected to create substantial operational synergies, underscoring a strategic shift towards growth and stability in low-carbon metals, which positions Teck favorably in the market.

Teck Resources faces significant challenges reflected by a 17% year-to-date decline in share price, primarily attributed to ramp-up issues at its Quebrada Blanca 2 (QB2) copper mine. Furthermore, the company has recently adjusted its production guidance for 2027-2028 downward, suggesting a potentially ongoing struggle to meet growth targets in copper production, which is now its primary revenue driver following the sale of its coal assets. These factors, combined with a broader underperformance compared to global peers, contribute to a negative outlook on Teck's stock prospects.