Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen. It also produces lead, silver, and molybdenum; and various specialty and other metals, chemicals, and fertilizers. In addition, the company explores for gold. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.

Teck Resources Ltd

In trading on Thursday, the Global X Copper Miners ETF is outperforming other ETFs, up about 5.9% on the day. Components of that ETF showing particular strength include shares of Teck Resources, up about 8.4% and shares of Southern Copper, up about 8% on the day.
And underperforming other ETFs today is the Vanguard Real Estate ETF, down about 1.3% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Equinix, lower by about 8%, and shares of Office Properties Income Trust, lower by about 3.8% on the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Thursday's ETF Movers: COPX, VNQ

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares North American Natural Resources ETF (Symbol: IGE), we found that the implied analyst target price for the ETF based upon its underlying holdings is $51.09 per unit.
With IGE trading at a recent price near $45.35 per unit, that means that analysts see 12.67% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of IGE's underlying holdings with notable upside to their analyst target prices are Baytex Energy Corp (Symbol: BTE), Teck Resources Ltd (Symbol: TECK), and B2Gold Corp (Symbol: BTG). Although BTE has traded at a recent price of $2.12/share, the average analyst target is 41.46% higher at $3.00/share. Similarly, TECK has 23.48% upside from the recent share price of $38.49 if the average analyst target price of $47.53/share is reached, and analysts on average are expecting BTG to reach a target price of $4.30/share, which is 16.64% above the recent price of $3.69. Below is a twelve month price history chart comparing the stock performance of BTE, TECK, and BTG:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
iShares North American Natural Resources ETF
IGE
$45.35
$51.09
12.67%
Baytex Energy Corp
BTE
$2.12
$3.00
41.46%
Teck Resources Ltd
TECK
$38.49
$47.53
23.48%
B2Gold Corp
BTG
$3.69
$4.30
16.64%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Analysts Expect 13% Gains Ahead For IGE

Looking at the universe of stocks we cover at Dividend Channel, on 6/16/25, Paramount Global - Class A (Symbol: PARAA), Fidelis Insurance Holdings Ltd (Symbol: FIHL), and Teck Resources Ltd (Symbol: TECK) will all trade ex-dividend for their respective upcoming dividends. Paramount Global - Class A will pay its quarterly dividend of $0.05 on 7/1/25, Fidelis Insurance Holdings Ltd will pay its quarterly dividend of $0.10 on 6/27/25, and Teck Resources Ltd will pay its quarterly dividend of $0.125 on 6/30/25. As a percentage of PARAA's recent stock price of $22.62, this dividend works out to approximately 0.22%, so look for shares of Paramount Global - Class A to trade 0.22% lower — all else being equal — when PARAA shares open for trading on 6/16/25. Similarly, investors should look for FIHL to open 0.60% lower in price and for TECK to open 0.32% lower, all else being equal.
Below are dividend history charts for PARAA, FIHL, and TECK, showing historical dividends prior to the most recent ones declared.
Paramount Global - Class A (Symbol: PARAA):
Fidelis Insurance Holdings Ltd (Symbol: FIHL):
Teck Resources Ltd (Symbol: TECK):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.88% for Paramount Global - Class A, 2.40% for Fidelis Insurance Holdings Ltd, and 1.29% for Teck Resources Ltd.
Free Report: Top 8%+ Dividends (paid monthly)
In Thursday trading, Paramount Global - Class A shares are currently up about 0.4%, Fidelis Insurance Holdings Ltd shares are off about 1.5%, and Teck Resources Ltd shares are down about 0.5% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: Paramount Global, Fidelis Insurance Holdings and Teck Resources

Teck Resources Limited TECK reported first-quarter 2025 adjusted earnings per share (EPS) of 42 cents, beating the Zacks Consensus Estimate of 24 cents. It marked a substantial improvement from the loss of one cent per share in the year-ago quarter. This was attributed to higher base metal prices and increased sales volume of copper and zinc in concentrate.
The prior-year quarter’s earnings have been adjusted by Teck Resources to reflect the sale of the steelmaking coal business or Elk Valley Resources (“EVR”) in the third quarter of 2024. Including the business, earnings in the first quarter of 2024 were previously 56 cents per share.
Including one-time items, the company reported EPS of 51 cents in the quarter against the year-ago quarter’s loss of 18 cents per share.
Teck Resources Ltd Price, Consensus and EPS Surprise
Teck Resources Ltd price-consensus-eps-surprise-chart | Teck Resources Ltd Quote
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
TECK Posts Y/Y Sales Growth & Solid Margin Expansion in Q1
Net sales amounted to $1.595 billion, surpassing the Zacks Consensus Estimate of $1.578 billion. The figure reflects a 33% year-over-year improvement over the prior year-quarter’s adjusted figure of $1.119 billion, aided by higher sales in both the copper and zinc segments.
Including EVR, the company’s sales in the year-ago quarter were around $2.96 billion.
The gross profit was CAD$536 million ($372 million), skyrocketing 217% from the year-ago quarter. The gross margin was 23.4% compared with the year-ago quarter’s 10.4%.
The adjusted EBITDA was CAD$927 million ($644 million), which soared 127% from the year-earlier period. The EBITDA margin was 40.5% in the quarter under review compared with the year-ago quarter’s 25.3%.
Teck Resources’ Q1 Segment Performances
The Copper segment’s net sales improved 40% year over year to CAD1.51 billion ($1.05 billion), attributed to higher production and copper prices.
Total copper production was 106,100 tons, 7% higher than the first quarter of 2024. Copper in concentrate production from QB was 42,300 tons in the quarter, impacted by an extended shutdown in January, a national power outage in Chile and challenging weather, which reduced material movement needed to complete planned tailings lifts, ultimately reducing asset utilization. Copper sales in the quarter were 106,200 tons, up 11% year over year.
The segment’s gross profit skyrocketed 224% year over year to CAD$343 million ($238 million), attributed to higher copper prices and sales volume, and higher by-product and co-product revenues from molybdenum and zinc. These gains were partly offset by increased depreciation of QB assets and higher depreciation of capitalized stripping at Highland Valley Copper.
The Zinc segment’s net sales jumped 44% year over year to CAD$0.78 billion ($0.54 billion) on improved zinc prices and higher zinc concentrate sales volumes.
The segment’s gross profit marked a year-over-year surge of 206% to CAD$193 million ($134 million). This was attributed to increased zinc prices, lower zinc treatment charges and higher by-product revenues.
TECK’s Cash Flow & Balance Sheet
Teck Resources used CAD$515 million ($358 million) of cash in operating activities in the first quarter of 2025 against an inflow of CAD$42 million in the year-ago quarter.
The company had cash and cash equivalents of CAD$6.2 billion ($5.12 billion) at the end of the first quarter of 2025 compared with CAD$7.6 billion at the end of 2024.
So far this year, Teck Resources returned $505 million to shareholders through share buybacks. The company has completed $1.75 billion of its authorized share buyback program of $3.25 billion
Teck Resources’ Guidance for 2025
The company’s copper production is anticipated to be 490,000-565,000 tons. The zinc production is projected between 525,000 tons and 575,000 tons. Refined zinc output is estimated between 190,000 tons and 230,000 tons.
TECK Stock’s Price Performance
The company’s shares have lost 26.9% in the past year compared with the industry’s 11.3% decline.
Image Source: Zacks Investment Research
Teck Resources’ Peer Performances
Freeport-McMoRan Inc. FCX recorded earnings of 24 cents per share for first-quarter 2025, down around 25% from 32 cents in the year-ago quarter. EPS was in line with the Zacks Consensus Estimate.
Freeport-McMoRan’s revenues declined roughly 9.4% year over year to $5,728 million. The figure surpassed the consensus estimate of $5,307.6 million.
Copper production declined around 20% year over year to 868 million pounds in the reported quarter. Sales declined around 21.2% year over year to 872 million pounds of copper. The company sold 128,000 ounces of gold, down around 77.5% year over year. FCX also sold 20 million pounds of molybdenum, stable year over year, in the reported quarter.
Southern Copper Corporation SCCO reported first-quarter EPS of $1.19, surpassing the Zacks Consensus Estimate of $1.13. The bottom line came in 25% higher than the year-ago quarter’s earnings of 95 cents per share.
Southern Copper’s net sales in the quarter were $3.122 billion, marking a 20.1% increase from the year-ago quarter. The improvement was attributed to higher sales volumes of copper (up 3.6%), molybdenum (9.9%), zinc (42.4%) and silver (14.1%) and an uptick in metal prices for all its products.
Southern Copper mined 240,226 tons of copper in the reported quarter, flat year over year. Copper sales improved 3.6% year over year to 243,601 tons.
TECK’s Zacks Rank & A Stock to Consider
Teck Resources currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A better-ranked stock from the basic materials space is Equinox Gold Corp. EQX, which sports a Zacks Rank of 1 at present.
Equinox Gold has an average trailing four-quarter earnings surprise of 1.07%. The Zacks Consensus Estimate for the company’s fiscal 2025 earnings is pegged at 82 cents per share, implying 310% year-over-year growth. Its shares have gained 29.6% in a year.
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This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Teck Resources Q1 Earnings Beat Estimates, Sales & Margins Improve Y/Y

(RTTNews) - Teck Resources Ltd. (TECK), a Canadian resource company, announced on Thursday that it reported a Profit from continuing operations attributable to shareholders in the first quarter compared with a loss last year.
For the first quarter, Profit from continuing operations was C$370 million compared with the loss of C$125 million last year.
Earnings per share were C$0.73 versus a loss of C$0.24 in the previous year.
On the adjusted basis, profit from continuing operations was registered at C$303 million compared with a loss of C$6 million last year.
Adjusted earnings per share were C$0.60 versus a loss of C$0.01 in the prior year.
Sixteen Analysts, on average, had expected the company to report a profit of $0.34 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA climbed to C$927 million from C$409 million in the previous year.
Pre-tax Profit from continuing operations also increased to C$450 million from a loss of C$235 million in the prior year.
Revenue increased to C$2.29 billion from C$1.62 billion last year.
Looking ahead, the company reiterated its outlook, as there has been no change to the previously disclosed guidance.
The company expects production of Copper to range between 0.490 million to 0.565 million tonnes, Zinc at 0.525 million to 0.575 million tonnes, and refined zinc to range between 0.190 million to 0.23 million tonnes.
For the second quarter, the company anticipates sales of Red Dog zinc in concentrate to range between 25000 to 35000 tonnes.
Teck Resources also anticipates Copper net cash unit costs to range between $1.65lb. and $1.95lb. While Zinc net cash unit costs are expected to be in the range of $0.45lb. and $0.55lb.
Wednesday, Teck Resources stock closed at $34.88, 3.07% higher on the New York Stock Exchange. In the after-market hours, the stock traded 0.23% lesser before ending the trade at $34.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Teck Resources Swings To Q1 Profit; Reiterates Guidance

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Global X Copper Miners ETF (Symbol: COPX) where we have detected an approximate $172.9 million dollar outflow -- that's a 7.4% decrease week over week (from 64,629,374 to 59,869,374). Among the largest underlying components of COPX, in trading today Freeport-McMoran Copper & Gold (Symbol: FCX) is up about 2.9%, Hudbay Minerals Inc (Symbol: HBM) is up about 1.7%, and Teck Resources Ltd (Symbol: TECK) is higher by about 2.3%. For a complete list of holdings, visit the COPX Holdings page » The chart below shows the one year price performance of COPX, versus its 200 day moving average:
Looking at the chart above, COPX's low point in its 52 week range is $30.77 per share, with $52.90 as the 52 week high point — that compares with a last trade of $37.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Outflow Detected - COPX, FCX, HBM, TECK

Copper prices have trended above $5.00 per pound since last week, a level last seen in May 2024. Copper futures for May delivery closed at $5.09 yesterday after hitting a high of $5.18. Prices are being driven by concerns over U.S. tariffs and stimulus measures in China. The metal has had a good run so far this year, notching a gain of 27.9%. It remains to be seen whether the commodity can break its record high of $5.199 per pound set on May 20, 2024.
Amid this strong momentum in copper prices, investors may consider companies like BHP Group BHP, Southern Copper SCCO, Freeport-McMoRan Inc. FCX, Teck Resources TECK and Amerigo Resources ARREF, which are expected to benefit from this rally. Their growth plans make them attractive investment options.
Factors Driving Copper Prices
Tariff Concerns: U.S. President Trump signed an executive order last month to investigate copper imports, citing national security risks from the growing reliance on foreign sources. This has fueled speculation about a 25% tariff. This, in turn, triggered a preemptive scramble among traders to pay higher premiums and expedite shipments to the United States. This rush has tightened supply elsewhere, leading to a spike in prices.
Supply Constraints: The copper market is grappling with inherent supply constraints from prolonged underinvestment in new mining projects and limitations in refining capacity. The extended lead times involved in bringing new mines online, along with the capital-intensive nature of such projects, have resulted in a notable shortage of upcoming copper supply. While demand has been strong, there will be an eventual deficit in metal supply, leading to a situation that will bolster metal prices.
Electrification & Technological Demand: The surging demand for electric vehicles is expected to be a significant growth driver for copper. Moreover, the transition to renewable energy sources, such as solar and wind power, necessitates substantial copper usage. Artificial intelligence (AI), requiring extensive data centers and high-performance computing infrastructure, is another major consumer of copper.
China's Economic Recovery: China’s GDP grew by a seasonally adjusted 1.6% in the fourth quarter of 2024, higher than the 1.3% for the third quarter. It marked the strongest quarterly increase since the first quarter of 2023. China’s GDP growth target has been set at 4.6% for 2025. China’s government is implementing stimulus measures to boost domestic consumption and support the economy. This is expected to boost copper demand.
Copper’s Long-Term View Intact
The long-term outlook for copper remains strong, driven by consistent growth in traditional sectors like construction and manufacturing, energy transition (renewables and electric vehicles) and the rise of digital technologies (AI and data centers). Given the supply limitations, this demand surge is expected to push prices higher.
5 Copper Stocks to Watch
We suggest investors keep an eye on these five copper-mining stocks that we have handpicked. These stocks have a Zacks Rank #3 (Hold) and have outperformed the S&P 500’s decline of 2.3%. This is shown in the chart below.
These stocks are anticipated to carry the momentum forward, backed by their earnings growth projections.
Image Source: Zacks Investment Research
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BHP Group: The company expects copper production of 1,845-2,045 kt in fiscal 2025, following a 15-year high production of 1,865 kt in fiscal 2024. In Chile, the company has seven key projects, which can grow copper production to average 1.4 Mtpa through the 2030s. BHP is investing in its 100% owned Copper South Australia asset, focusing on all three operations.
The company recently announced smelter and refinery expansion at Olympic Dam, which is expected to take BHP’s copper production in South Australia from 322,000 tons in fiscal 2024 to more than 500,000 tons by early 2030s and 650,000 tons by mid-2030s. BHP and Lundin Mining recently completed the acquisition of Filo Corp and formed a joint venture, Vicuña Corp., to hold the Filo del Sol and Josemaria copper projects. This will help advance one of the most significant copper discoveries globally in recent decades.
BHP also has a 45% interest in the Resolution Copper Project in the United States, one of the largest undeveloped copper projects in the world. BHP expects these projects to deliver more than 2 Mtpa of attributable copper production by the mid-2030s. Efforts to make operations more efficient by adopting technology will continue to aid in reducing costs. BHP’s focus on lowering debt is also commendable.
The Zacks Consensus Estimate for BHP’s fiscal 2025 earnings suggests year-over-year growth of 3.6%. The estimate has moved up 0.5% in the past 30 days. The stock has gained 1% year to date.
Southern Copper: The company has the largest copper reserve in the industry and operates world-class assets in investment-grade countries, such as Mexico and Peru. SCCO expects copper production of 967,000 tons for 2025, suggesting no change from that registered in 2024. This will be supported by higher production in Peru and production from the new Buenavista zinc concentrator.
The company’s capital investment program for this decade exceeds $15 billion and includes investments at the Buenavista Zinc, Pilares, El Pilar and El Arco projects in Mexico, and the Tia Maria, Los Chancas and Michiquillay projects in Peru.
SCCO continues to build its presence in Peru, as the country is the second-largest producer of copper. Southern Copper’s Michiquillay is expected to become one of Peru's largest copper mines and will produce 225,000 tons of copper per year (along with by-products of molybdenum, gold and silver) for an expected mine life of more than 25 years. Production is scheduled to start by 2032. Given its constant commitment to increasing low-cost production and growth investments, SCCO is well-poised to continue delivering an enhanced performance.
The Zacks Consensus Estimate for the Phoenix, AZ-based company’s fiscal 2025 earnings indicates year-over-year growth of 6.9%. The estimate has moved up 1.3% over the past 30 days. SCCO has a long-term estimated earnings growth rate of 11%. It has a trailing four-quarter earnings surprise of 7.9%, on average. SCCO shares have gained 9.3% so far this year.
Freeport-McMoRan: The company's strategy to expand reserves through exploration near existing mines is expected to fuel growth. FCX is implementing the latest technologies and data analytics in leaching processes across its North America and South America operations. The leach initiative provided an approximate 50% increase in incremental copper in 2024 compared with 2023 in North America.
FCX is targeting an annual run rate of 300 million pounds by this year-end and a long-term target of 800 million pounds by 2030. Freeport has a policy of distributing 50% of the available cash flows to shareholders and the balance to reduce debt and make investments in growth projects.
Its organic project pipeline containing Kucing Liar/Grasberg District, Bagdad 2X, El Abra expansion and Lone Star sulfide expansions remains strong. Kucing Liar expansion has an expected production of 7 billion pounds of copper through 2041. The Baghdad expansion is expected to add incremental production of 200-250 million pounds of copper annually. El Abra expansion with a potential start-up in 2033 is expected to add 750 million pounds of copper per year.
The Zacks Consensus Estimate for FCX’s earnings for fiscal 2025 indicates year-over-year growth of 10.1%. The company has a trailing four-quarter earnings surprise of 15.2%, on average. It has a long-term estimated earnings growth rate of 26.6%. The Phoenix, AZ-based company has gained 9.3% year to date.
Teck Resources: The company’s copper production was 446,000 tons in 2024, which marked a 50.7% year-over-year increase due to the ramp-up of QB, which achieved design throughput rates by the end of the year. The same for 2025 is projected at 490,000-565,000 tons, reflecting the ramp-up at QB, and higher production at Highland Valley Copper and Carmen de Andacollo. Highland Valley Copper production is expected to increase significantly in 2025 as mining continues in the Lornex pit, releasing ore that is both higher grade (more metal) and softer (higher mill throughput). The sanction decision for the Zafranal copper-gold project is expected in late 2025.
Zafranal has an expected mine life of 19 years and will produce copper-gold concentrates through an open-pit mining and conventional concentration process. The mine and concentrator are expected to produce an average of 126,000 tons of copper contained in the concentrate during its first five years of production.
Also, the Highland Valley Mine Life Extension is expected to add 17 years to the mine’s life. The San Nicolas project’s annual estimated production (on a 100% basis) is 63,000 tons of copper and 147,000 tons of zinc in the first five years. The feasibility study and execution strategy are progressing toward a potential sanction decision in the second half of this year. The company expects to increase copper production to 800,000 tons before the end of this decade.
The Zacks Consensus Estimate for Vancouver, Canada-based Teck Resources’ 2025 earnings suggests a year-over-year upsurge of 78%. It has a trailing four-quarter earnings surprise of 18.4%, on average. It has a long-term estimated earnings growth rate of 51.8%. The TECK stock has gained 3.4% year to date.
Amerigo Resources: In 2024, the MVC operations produced 64.6 million pounds of copper, delivering a 12% year-over-year improvement and 4% growth from ARREF’s guidance. Copper deliveries reached a record 65 million pounds. Net income for 2024 was $19.2 million, a solid improvement from $3.4 million in 2023. For 2025, Amerigo projects production of 62.9 million pounds of copper and 1.3 million pounds of molybdenum, marking the fifth year of increased production guidance.
Backed by its healthy cash balances, minimal debt and robust financial performance, the company continues its capital return strategy that was initiated in September 2021. In 2024, Amerigo returned $21.2 million to shareholders (including both quarterly and performance dividends). Notably, this was the first year the company employed all the elements of the strategy — quarterly dividends, performance dividends and share buybacks. ARREF is planning to end 2025 with a debt-free balance sheet.
The Zacks Consensus Estimate for Vancouver, Canada-based Amerigo Resources’ earnings for 2025 indicates a year-over-year surge of 75%. The estimate has been unchanged over the past 30 days. ARREF has a long-term estimated earnings growth rate of 20%. The stock has gained 24.4% year to date.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
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Teck Resources Ltd (TECK) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

5 Stocks to Keep an Eye on as Copper Prices Approach Record Highs

Vale S.A. VALE reported fourth-quarter 2024 adjusted earnings per share of 20 cents, which missed the Zacks Consensus Estimate of 53 cents. The bottom line marked a 64% plunge from earnings of 56 cents per share reported in the year-ago quarter, which reflected lower iron ore sales volumes and prices. Lower sales volume and prices for nickel, somewhat offset by higher copper revenues, also contributed to the decline.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Including one-time items, Vale reported a loss of 16 cents per share against earnings of 56 cents per share in the year-ago quarter. This was mainly due to the impact of the recognition of an impairment of $1.4 billion related to the Thompson nickel operations and $540 million related to the Voisey’s Bay Mine Extension project.
Vale’s Q4 Revenues Reflect Lower Iron Ore Sales & Volumes
Vale’s net operating revenues were down 22% year over year to around $10.1 billion. The top line beat the Zacks Consensus Estimate of $10 billion.
The Iron Solutions segment generated net operating revenues of $8.15 billion, which marked a 26% decline from last year’s comparable quarter due to a 10% decline in sales volumes and prices.
The Energy Transition Metals segment’s net operating revenues dipped 0.5% year over year to $1.97 billion. Nickel revenues were down 9% year over year to $1.07 billion, attributed to a 2% dip in sales volume and a 12% decline in prices.
Copper revenues gained 13% to $0.96 billion, aided by a 16% jump in prices that offset the impact of a 3% dip in sales volumes.
Vale’s Margins Contract in Q4
In the third quarter, the cost of goods sold was around $6.3 billion, down 9% from the year-ago quarter. The gross profit plunged 37% year over year to $3.86 billion. The gross margin was 33.1% compared with 29.9% in the year-ago quarter.
Selling, general and administrative expenditures were up 41% year over year to $206 million. Research and development expenses were $253 million, 9.5% higher than the year-ago quarter.
Adjusted operating income was $2.99 billion. The figure marked a 47% slump from the year-ago quarter. Adjusted EBITDA was around $3.8 billion, 41% lower than the year-ago quarter.
Pro-forma adjusted EBITDA (including associates and joint ventures and excluding expenses related to Brumadinho) was down 40% year over year to approximately $4.12 billion, mainly reflecting lower iron ore prices and sales volumes. Proforma EBITDA margin was 41% in the fourth quarter compared with 53% in the year-ago quarter.
The Iron Solutions segment’s adjusted EBITDA was $4 billion, which was 39% lower than the fourth quarter of 2023. Energy Transition Metals’ EBITDA was up 2% to $541 million from the year-ago quarter. Copper operations witnessed a 40% year-over-year improvement in adjusted EBITDA to $526 million, attributed to increased sales volumes and prices. Adjusted EBITDA for nickel was $55 million, a 64% drop from the year-ago quarter due to declining average prices and lower volumes sold.
VALE’s Balance Sheet & Cash Flows
Vale exited 2024 with cash and cash equivalents of around $4.9 billion compared with around $3.6 billion at the end of the prior year. Cash flow generated from operations was $9.4 billion compared with $13.2 billion in 2023.
Gross debt and leases at the end of 2024 were $15.5 billion compared with $13.9 billion at the end of 2023.
Vale’s Performance in 2024
Vale reported adjusted earnings per share of $1.82 in 2024, down 1% year over year. Including one-time items, the company reported earnings of $1.44 per share compared with $1.83 in 2023. Vale’s net operating revenues were down 9% year over year to around $38 billion.
Vale’s Price Performance
In the past year, shares of Vale have lost 24.7% compared with the industry’s 22.9% decline.
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Vale’s Zacks Rank
Vale currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vale’s Peer Performances in Q4
Teck Resources Limited TECK reported fourth-quarter 2024 adjusted earnings per share of 33 cents, beating the Zacks Consensus Estimate of 22 cents. The bottom line marked a substantial improvement from the earnings per share of three cents in the year-ago quarter. The increase was primarily led by higher base metal prices and increased copper and zinc in concentrate sales volumes.
Net sales amounted to $1.99 billion, indicating a 47% year-over-year improvement. The top line surpassed the consensus estimate of $1.86 billion.
Freeport-McMoRan Inc. FCX recorded net income of $274 million or 19 cents per share for fourth-quarter 2024, down around 29.3% from $388 million or 27 cents per share in the year-ago quarter.
Revenues declined nearly 3.1% year over year to $5,720 million. The figure missed the Zacks Consensus Estimate of $5,921.9 million. The company witnessed lower copper sales in the reported quarter.
Southern Copper Corporation SCCO reported fourth-quarter 2024 earnings of $1.01 per share, which marginally missed the Zacks Consensus Estimate of $1.02. The bottom line, however, marked a 74% surge from the year-ago quarter. Results were driven by higher sales volumes for copper, zinc and silver as well as improved prices.
SCCO’s fourth-quarter performance was partially hurt by a decline in the molybdenum sales volume. The company posted sales of $2.784 billion, which beat the consensus estimate of $2.780 billion. The top line increased 21.3% year over year.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Vale Q4 Earnings Miss Estimates, Revenues Decline 22% Y/Y

(RTTNews) - Teck Resources Limited (TECK), a natural resources company, Thursday reported profit from continuing operations before tax of C$256 million for the fourth quarter compared with loss of C$324 million in the same quarter a year ago, primarily helped by significant growth in copper production.
Profit from continuing operations was C$385 million or C$0.75 per share versus net loss of C$167 million or C$0.32 per share last year.
Excluding one-time items, adjusted profit from continuing operations increased to C$232 million or C$0.45 per share from C$23 million or C$0.04 per share a year ago.
The company recorded net profit of C$399 million or C$0.78 per share compared with net loss of C$699 million or C$1.35 per share last year.
Revenue for the quarter grew to C$2.786 billion from C$1.843 billion in the previous year.
Looking ahead, the company said in a statement, "We achieved record copper production of 446,000 tonnes in 2024, up 50% from 2023, supported by the ramp-up of QB. We expect our annual 2025 copper production to further increase to between 490,000 and 565,000 tonnes as QB continues to ramp-up, consistent with our previously disclosed guidance."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Teck Resources Turns To Q4 Profit Driven By Significant Growth In Copper Production

The following companies are expected to report earnings prior to market open on 02/20/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
Walmart Inc. (WMT)is reporting for the quarter ending January 31, 2025. The supermarket company's consensus earnings per share forecast from the 15 analysts that follow the stock is $0.64. This value represents a 6.67% increase compared to the same quarter last year. In the past year WMT has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 9.43%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for WMT is 41.85 vs. an industry ratio of 15.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Southern Company (SO)is reporting for the quarter ending December 31, 2024. The electric power utilities company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.51. This value represents a 20.31% decrease compared to the same quarter last year. In the past year SO has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 7.52%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for SO is 21.21 vs. an industry ratio of 14.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Alibaba Group Holding Limited (BABA)is reporting for the quarter ending December 31, 2024. The internet company's consensus earnings per share forecast from the 2 analysts that follow the stock is $2.84. This value represents a 18.33% increase compared to the same quarter last year. BABA missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -3.98%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for BABA is 16.15 vs. an industry ratio of 20.30.
NetEase, Inc. (NTES)is reporting for the quarter ending December 31, 2024. The internet software company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.59. This value represents a 11.97% increase compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for NTES is 17.27 vs. an industry ratio of 24.40.
Cheniere Energy, Inc. (LNG)is reporting for the quarter ending December 31, 2024. The oil (us exp & production) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.69. This value represents a 53.30% decrease compared to the same quarter last year. LNG missed the consensus earnings per share in the 1st calendar quarter of 2024 by -7.39%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for LNG is 16.89 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Targa Resources, Inc. (TRGP)is reporting for the quarter ending December 31, 2024. The oil refining company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.88. This value represents a 52.85% increase compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for TRGP is 32.93 vs. an industry ratio of 18.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Quanta Services, Inc. (PWR)is reporting for the quarter ending December 31, 2024. The engineering company's consensus earnings per share forecast from the 8 analysts that follow the stock is $2.45. This value represents a 30.32% increase compared to the same quarter last year. PWR missed the consensus earnings per share in the 2nd calendar quarter of 2024 by -2.86%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for PWR is 36.36 vs. an industry ratio of 22.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Cenovus Energy Inc (CVE)is reporting for the quarter ending December 31, 2024. The oil company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.18. This value represents a 37.93% decrease compared to the same quarter last year. The last two quarters CVE had negative earnings surprises; the latest report they missed by -8.82%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CVE is 11.37 vs. an industry ratio of 9.50, implying that they will have a higher earnings growth than their competitors in the same industry.
CenterPoint Energy, Inc. (CNP)is reporting for the quarter ending December 31, 2024. The electric power utilities company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.40. This value represents a 25.00% increase compared to the same quarter last year. CNP missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -13.89%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CNP is 20.87 vs. an industry ratio of 14.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Teck Resources Ltd (TECK)is reporting for the quarter ending December 31, 2024. The mining company's consensus earnings per share forecast from the 16 analysts that follow the stock is $0.22. This value represents a 78.43% decrease compared to the same quarter last year. TECK missed the consensus earnings per share in the 1st calendar quarter of 2024 by -35.63%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for TECK is 26.29 vs. an industry ratio of -36.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Cameco Corporation (CCJ)is reporting for the quarter ending December 31, 2024. The mining company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.23. This value represents a 53.33% increase compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CCJ is 114.10 vs. an industry ratio of -36.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Builders FirstSource, Inc. (BLDR)is reporting for the quarter ending December 31, 2024. The building company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.24. This value represents a 36.90% decrease compared to the same quarter last year. BLDR missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -0.65%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for BLDR is 12.87 vs. an industry ratio of 20.00.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Teck Resources Ltd

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