TECK.US Q4 profit surpasses expectations, copper production up 19% YoY

Thanks to higher copper production from Chilean mines, Teck Resources (TECK.US) reported fourth-quarter profits that beat market expectations on Thursday. The data showed Teck Resources' adjusted EPS for the fourth quarter was C$0.45 (US$0.3168), topping the average analyst estimate of C$0.43.

Total copper production in the fourth quarter reached 122,100 tons, up 19% YoY, including 60,700 tons from the Quebrada Blanca copper mine in Chile.

"We set a new quarterly record for copper production in the fourth quarter due to the strong performance of the Quebrada Blanca mine," said Teck Resources' CEO Jonathan Price.

Strong sales and favorable prices also provided support.

The company has been investing in a Quebrada Blanca copper mine throughput expansion project, which is expected to further increase capacity by 10-15%.

Teck expects copper production to be between 490,000 and 565,000 tons in 2025.

As of writing, Teck Resources' premarket stock price rose 0.68%.