Deutsche Bank 08:58 AM EST, 01/18/2022 (MT Newswires) -- Deutsche Bank on Tuesday forecast key financial metrics for Teck Resources Ltd. (TECK-A.TO, TECK-B.TO) ahead of the Feb. 28 release of the company's financial results for the fourth quarter of 2021 and full-year 2021.
Deutsche Bank forecast an adjusted EBITDA of $ 2.7 billion, 4% below consensus, primarily driven by lower met coal sales.
The capex increase at the QB2 project is expected to be limited to 5%, with a step up in the COVID capex. Production will likely remain unchanged compared to previous guidance.
Given Teck's solid free cash flow, Deutsche Bank believes the company could top up its dividend.