By Ketki Saxena

Investing.com -- Vancouver based mining Teck Resources Limited (TSX:TECKa) reported its unaudited annual and fourth quarter results for 2021 today morning. Teck announced record-setting performance driven by the ongoing positive environment for commodities.

In a Press Release, Teck President and CEO Don Lindsay announced “a number of financial performance records, including our highest-ever quarterly and annual adjusted EBITDA and adjusted profit attributable to shareholders.”

Revenue for the quarter totalled $4.41 billion, up from $2.56 billion in Q4 2020. On an adjusted basis, earnings per diluted share were also significantly higher than this time last year at $2.54, compared to EPS of 46 cents in Q4 2020. 

Adjusted profit attributable to shareholders was a record $1.49 billion or $2.58 per share in Q4 2021. This was more than five times higher than the same period last year. 

Teck also declared a $0.625 per share dividend, increased its annual base dividend to $0.50 per share and authorized up to $100 million share buyback.

In Canada, Teck offers a dual-class share structure. Teck’s Class A shares have 100 times the voting power of Class B shares.

As of 10 a.m ET, Teck.B was trading at 44.51 CAD, down -0.70 (-1.57%) in the day’s trading, and with a 52-week range of 21.86 - 47.07. YTD, 

Investing Pro Models suggest a fair price target of $53.61, representing a 20.4% financial upside. 

YTD, Teck.B has delivered 24.1% total price return to shareholders. 

Teck.A was trading at 45.56%, down -2.92 (-6.02%) for the day, and with a 52-week range or 28.70 - 49.99

Investing Pro Models suggest a fair price target of $60.17, representing a financial upside of 32.1%. 

YTD, Teck.A has delivered 26.9% total price return to shareholders

All currencies in CAD, unless noted otherwise.