Fair value published on 18 Oct 2026, 16:04 CEST; previously $33.02 since 14 Oct 2026, 00:00 CEST.
ACCE price target published on 21 Sept 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 16:04 CEST.
Price used: $59.05 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
76.7% above
-43.4% to fair value
ACCE score
74
out of 100
Analysts
41% buy
17 covering
P/E
16.0x
forward 17.3x
1-year return
+39.0%
Dividend yield
0.80%
Teck Resources Ltd Ordinary Shares in four questions
Plain answers, details below
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Overview
ACCE thesis
Teck Resources mines and smelts copper, zinc and metallurgical coal, with its largest growth asset being the Quebrada Blanca copper operation in northern Chile and the Highland Valley copper mine in British Columbia. Its edge is a long-life, low-cost copper base in jurisdictions that are stable enough to finance, which matters as copper supply tightens against electrification demand. Reported revenue growth of 78.2% and a 43.1% operating margin show how much operating leverage is in the current copper price cycle, though a trailing P/E of 18.4 and forward P/E of 17.9 suggest the market is not fully pricing that cash flow yet. The 8.7% ROE is modest, reflecting a capital-heavy balance sheet and the cyclical nature of earnings, so the question for a deeper look is how durable the margin expansion is at normalized metal prices. The name is outside major index memberships, which may be worth examining as a source of mispricing or of liquidity risk.