Teck Resources (TECK) Shares Soar 14.97% on Earnings Beat

Teck Resources (TECK) shares surged 14.97% today, marking a significant rebound from its lowest level since August 2022, despite an intraday decline of 2.51%.

Teck Resources has shown a strong track record of exceeding earnings estimates, which has contributed to a positive outlook for the company. In the most recent quarter, the company reported earnings of $0.33 per share, surpassing the expected $0.22 per share, a surprise of 50%. The previous quarter also saw a positive surprise with actual earnings of $0.44 per share against the expected $0.36 per share. This trend of earnings surprises has led to higher estimates for the company, contributing to a positive Zacks Earnings ESP (Expected Surprise Prediction) of +11.26%.

Combined with a Zacks Rank #3 (Hold), this suggests a potential for another earnings beat in the upcoming report on April 24, 2025. Additionally, Morgan Stanley analyst Carlos De Alba has lowered the price target for Teck Resources from $52.50 to $42, though the firm maintains an Overweight rating. These factors indicate a mix of positive earnings performance and revised price expectations influencing the stock price of Teck Resources.