Canadian miner Teck Resources on Thursday reported first-quarter results that beat expectations due to higher commodity prices and copper sales volumes.
The company reported adjusted earnings per share from continuing operations of C$0.60, above expectations of C$0.32, according to data compiled by LSEG.
“Our profitability improved significantly … primarily as a result of higher base metal prices, increased copper and zinc in concentrate sales volumes, and the positive impact of a weaker Canadian dollar on our business,” Teck said in a statement.
Teck’s first-quarter copper sales volumes rose to 106,200 tonnes, an increase of 11% year-on-year.
Revenue rose to C$2.29 billion ($1.65 billion) from C$1.62 billion last year, beating expectations.
Teck also maintained its forecast for 2025.
In February, the company had said that US President Donald Trump’s tariffs on Canadian imports will not have any material impact on its business.
($1 = 1.3867 Canadian dollars)
(By Kanjyik Ghosh; Editing by Mrigank Dhaniwala)
