{"podcast":{"title":"Charged Alpha Stock Encyclopedia","slug":"charged-alpha-stock-encyclopedia-7819792","podcast_index_feed_id":7819792,"rss_url":"https://feed.podbean.com/chargedalpha/feed.xml","website_url":"https://chargedalpha.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/22241603/charged_alpha_logo_2048.png","author":"Colton Thomas","episode_count":1630,"summary":"Charged Alpha reviews earnings for each stock in the Russel 1000 every quarter. Each podcast gives thorough analysis, along with an in-depth profile in the beginning of the episode of the company, what they do, how they earn money and what to look for.","last_synced_at":"2026-09-04T06:17:14.359815+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792"},"episode":{"title":"Teck Resources Stock: A RECORD Copper Quarter — So Why We Say HOLD (TECK Q2 2026)","slug":"teck-resources-stock-a-record-copper-quarter-so-why-we-say-hold-teck-q2-2026","published_at":"2026-07-25T18:03:59+00:00","page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/teck-resources-stock-a-record-copper-quarter-so-why-we-say-hold-teck-q2-2026","show_page_url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792","url":"https://chargedalpha.podbean.com/e/teck-resources-stock-a-record-copper-quarter-%e2%80%94-so-why-we-say-hold-teck-q2-2026/","audio_url":"https://mcdn.podbean.com/mf/web/sq5svd1wy2jvok94/audio_q.mp3","summary":"Teck Resources (TECK) Q2 2026 — Teck Resources (TECK), the Vancouver miner transforming from a coal-and-metals house into a focused copper producer, reported a record Q2 2026 (in C$, IFRS): adjusted EPS of C$1.93 crushed the ~C$1.41 estimate (a ~C$0.52 beat) on revenue of C$3.61B (+79% YoY). Adjusted EBITDA roughly tripled to ~C$2.2B — a record 61% margin — as copper production jumped 25% to 135,900 tonnes into record ~US$6.05/lb prices. Copper gross profit (pre-D&A) more than doubled to C$1.8B (from C$673M); zinc added C$353M. Operating cash flow was C$1.7B and the net cash position GREW C$756M in the quarter, with liquidity of C$10.3B including C$6.1B of cash. Strategically, Teck is advancing its merger of equals with Anglo American to create 'Anglo Teck,' a global copper champion, expected to close in 12-18 months with Chinese regulatory approval the key remaining step. The catch: the stock has run ~90% off its ~$31 low to ~$60 (US), near its ~$71 high, on record copper. Haircut US$6.05 copper toward mid-cycle, put a 5.5x EV/EBITDA on normalized ~C$6.5B EBITDA plus net cash, and fair value lands ~US$57 — roughly where it trades. Our call: HOLD, 3/5 — a world-class copper transformation, executed beautifully, but priced near fair value at peak prices with a big merger still to clear. Financials in C$; price/valuation in US$. Teck Resources is a company in the middle of a dramatic makeover — from a sprawling coal-and-metals miner into a focused copper powerhouse, built on tier-one, long-life assets like the QB mine in Chile. Q2 2026 was a record quarter (reported in Canadian dollars): adjusted EPS of C$1.93 crushed the ~C$1.41 estimate on revenue up 79% to C$3.61B, and adjusted EBITDA roughly tripled to about C$2.2B — a record 61% margin. The driver was copper: pr…","meta_description":"Teck Resources (TECK) Q2 2026 — Teck Resources (TECK), the Vancouver miner transforming from a coal-and-metals house into a focused copper producer, repor…","key_points":[],"chapters":[],"topics":[],"duration_seconds":809,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/teck-resources-stock-a-record-copper-quarter-so-why-we-say-hold-teck-q2-2026/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/teck-resources-stock-a-record-copper-quarter-so-why-we-say-hold-teck-q2-2026.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}