Teck's Q4 2024 Results: A Sneak Peek into Copper's Future

As the calendar flips to February 2025, investors eagerly await Teck Resources Limited's (TSX: TECK.A and TECK.B, NYSE: TECK) fourth quarter 2024 earnings results, scheduled for release on February 20. With a strategic focus on copper and zinc, Teck has positioned itself as a key player in the energy transition metals sector. Let's delve into what investors can expect from Teck's Q4 2024 results and the company's future growth prospects.



Copper Production: The Star of the Show

Teck's transformation into a pure-play energy transition metals company has been driven by its focus on copper, a metal essential for the global shift towards renewable energy and electrification. In the third quarter of 2024, Teck achieved a record quarter of copper production, with 114,500 tonnes, of which 52,500 tonnes were from the Quebrada Blanca (QB) operation. This impressive performance was driven by the successful ramp-up of the QB operation, strong copper prices, and Teck's disciplined investment pathway to grow copper production.

Investment in Copper Projects: Fueling Future Growth

Teck has planned capital expenditures between US$3.2 to US$3.9 billion over four years to develop four key near-term copper projects, including optimization strategies for QB. These investments are expected to increase copper production to about 800 kilotonnes per annum (ktpa), further enhancing Teck's valuation and investment appeal. As Teck continues to execute on its copper growth strategy, investors can expect to see a significant impact on the company's financial performance in the coming quarters.

Shareholder Returns: A Balanced Approach

While Teck is focused on growing its copper production and investing in strategic projects, the company remains committed to returning significant cash to shareholders. In the third quarter of 2024, Teck returned a total of $720 million to shareholders through share buybacks and dividends. From January 1 to October 23, 2024, Teck has returned over $1.3 billion to shareholders through share buybacks and dividends. This balanced approach to growth and shareholder returns has contributed to Teck's strong financial performance and increased investment appeal.

As Teck prepares to release its fourth quarter 2024 earnings results, investors can expect to see a continued focus on copper production growth, strategic investments in copper projects, and a commitment to returning cash to shareholders. With a strong balance sheet and a disciplined investment pathway, Teck is well-positioned to capitalize on the growing demand for copper and generate value for shareholders in the years to come.



In conclusion, Teck's Q4 2024 results will provide valuable insights into the company's progress towards its copper production growth targets and its commitment to returning cash to shareholders. As Teck continues to execute on its strategic growth initiatives, investors can expect to see a strong financial performance and a bright future for this leading energy transition metals company.