Teck Resources Limited: Project Development & Strategic Diversification Fuelling Our ‘Buy’ Rating! 

Teck Resources Limited’s third quarter of 2024 marks a transformative phase as the company evolves into a pure-play energy transition metals entity following the sale of its residual interest in the Steelmaking Coal business. This divestiture has substantially fortified Teck’s financial position, yielding USD 7.3 billion in cash and enabling one of the corporation’s most significant shareholder returns in its history. These returns include USD 720 million in dividends and share buybacks during the quarter, and over USD 1.3 billion year-to-date. Additionally, Teck has reduced debt by USD 1.5 billion, which places the company in a net cash position of USD 1.8 billion by the end of September 2024, further enhancing financial flexibility.