Teck's Royalty on Barrick's Gold Project Could Impact Valuation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 19 2026
0mins
Should l Buy TECK?
Source: seekingalpha
Teck Resources Ltd (TECK) saw its stock rise by 6.64% as it crossed above the 5-day SMA, reflecting positive investor sentiment.
The increase in Teck's stock price is attributed to the revelation that it holds a royalty on Barrick Mining's Fourmile gold project, which could be worth billions. This royalty agreement stipulates that Barrick would pay Teck 10% of net profits from the project, increasing to 15% once production exceeds 6 million ounces of gold. The potential financial benefits from this agreement may negatively impact Barrick's IPO valuation, as analysts expect a downgrade in asset valuation due to Teck's significant profit share.
This news highlights the strategic value of Teck's royalty agreements and their potential to influence market perceptions and valuations in the mining sector.
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Analyst Views on TECK
Wall Street analysts forecast TECK stock price to fall
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 48.570
Low
39.62
Averages
45.92
High
51.87
Current: 48.570
Low
39.62
Averages
45.92
High
51.87
About TECK
Teck Resources Limited is a resource company that operates a portfolio of copper and zinc operations across North and South America. The Company’s projects include the Highland Valley Copper (HVC) Mine Life Extension Project, Galore Creek Project, Zafranal Project, and NuevaUnion. The HVC Mine Life Extension is located at the HVC site, approximately 17 kilometers (km) west of Logan Lake and 75 kilometers southwest of Kamloops. The Galore Creek Project is situated in Tahltan Territory in northwestern British Columbia, around 370 km northwest of Smithers. The Zafranal Copper Project lies in the Arequipa Region of southern Peru, within the prolific porphyry copper belt. The NuevaUnion Project is a undeveloped copper-gold-molybdenum mining venture in the Americas, located in Chile’s Atacama Region; its two deposits are about 40 km apart. Its Red Dog Operations is a zinc mine located approximately 170 km (105 miles) north of the Arctic Circle in northwest Alaska, near Kotzebue.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Teck's Royalty on Barrick's Fourmile Gold Project Could Be Worth Billions
- Royalty Value Revelation: Teck Resources (TECK) holds a royalty on Barrick Mining's (B) Fourmile gold project that could be worth billions, a revelation that may impact the valuation of Barrick's planned IPO of its North American business.
- Undisclosed Royalty: Barrick (B) has not publicly disclosed the Teck (TECK) royalty, while the Fourmile project is described as one of the century's greatest gold discoveries, with only a 1.6% gross smelter return disclosed by Royal Gold (RGLD).
- Profit Sharing Agreement: Should Fourmile be developed into a mine, Barrick (B) would pay Teck (TECK) 10% of net profits, increasing to 15% once production exceeds 6 million ounces of gold; this royalty agreement was filed in Nevada four years prior to Barrick's discovery of Fourmile.
- IPO Valuation Downgrade: With Teck (TECK) set to earn a significant portion of profits from Fourmile, Barrick's (B) asset valuation for the IPO is now expected to fall below previous analyst estimates, potentially negatively impacting the value of assets to be listed in the IPO.
See More
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- High-Grade Mineralization Found: Hole TC25-06, drilled 150 meters northeast of the Pelham Resource Zone, intersected 15.5 meters of 1.04 g/t gold, further validating the correlation between gold mineralization associated with Fe-sulphide minerals and IP chargeability anomalies, reinforcing the company's geological concept.
- Ongoing Drilling Plans: The company plans to continue drilling along the 2.6 km mineralized corridor in both north and south directions in 2026, while also conducting additional drilling in the 2 km Pelham Zone, aiming to increase the existing Pelham resource and enhance the company's competitiveness in gold exploration.
- Quality Control Measures: Drill core samples were logged and cut under the supervision of the company's consulting geologist, with samples securely transported to Actlab in Ontario for gold fire assays, ensuring the quality and reliability of the assay results.
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