Shares of Teck Resources Ltd (TECK) plummeted 6.09% in intraday trading on Thursday following the release of its second-quarter 2025 financial results. The Canadian mining company reported mixed performance, with earnings surpassing analysts' expectations but revenue falling short of forecasts.
Teck Resources announced adjusted earnings of CA$0.38 per diluted share for Q2 2025, up from CA$0.12 a year earlier and beating the FactSet consensus estimate of CA$0.23. However, the company's revenue for the quarter came in at CA$2.02 billion, missing analysts' expectations of CA$2.17 billion. This revenue miss appears to be a significant factor contributing to the stock's sharp decline.
Adding to investor concerns, Teck revised its production guidance for its Quebrada Blanca (QB) copper mine, a key focus for investors. The company lowered its 2025 annual copper production forecast for QB to 210,000-230,000 tonnes from the previous estimate of 230,000-270,000 tonnes. This reduction is due to ongoing challenges with tailings management facility development and potential production impacts from external factors. Additionally, Teck adjusted its 2025 annual net cash unit costs guidance for QB upwards to US$2.25-$2.45 per pound from US$1.80-US$2.15 per pound, reflecting lower production and increased costs due to alternative shipping arrangements necessitated by a port facility outage.
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