Teck Resources Beats Expectations After Getting Boost From Higher Prices

By Adam Whittaker

Teck Resources' net profit and revenue beat consensus expectations as higher base-metal prices and significantly lower copper smelting charges offset a drop in third-quarter copper production.

The Canadian mining company said third-quarter net profit was 281 million Canadian dollars (US$200.4 million), up from a nearly C$700 million loss last year when it booked a significant impairment in its trail operations. Its performance was ahead of the C$258 million analysts had expected, according to a Visible Alpha compiled consensus.

The company said the on-year rise in profitability was due to higher zinc in concentrate sales volumes, a rise in base-metal prices, and by-product revenues combined with significantly lower copper smelter processing charges.

Copper prices on the London Metal Exchange were 6% higher than a year ago and helped offset a fall in copper production. Teck said it produced 104,100 metric tons of copper compared with 114,500 tons a year ago, as a continuing tailings management problem at its Quebrada Blanca mine in Chile constrained output. The tailings facility is where waste from mining is stored.

Earnings per share from continuing operations rose to C$0.57 from a loss of C$1.45 last year.

Revenue jumped to C$3.385 billion from C$2.86 billion. Analysts had forecast C$3.02 billion, according to the Visible Alpha consensus.

Teck kept the updated guidance that it issued on Oct. 7 unchanged.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

October 22, 2025 02:08 ET (06:08 GMT)