Teck Resources (NYSE:TECK) Stock Gets Price Target Bump from Scotia

Key Points

• Scotia raised Teck Resources’ price target from $83 to $88 while maintaining a “sector perform” rating, implying roughly 45.8% upside from the reported $60.34 share price.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and nine rate it a Hold, resulting in a consensus “Hold” rating and an average price target of $74.14.
• Teck’s shares fell $3.38 in Friday trading, while institutional investors continued to hold significant positions, collectively owning 78.06% of the company.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK had its price target lifted by Scotia from $83.00 to $88.00 in a research note issued to investors on Friday, BayStreet reports. The firm currently has a "sector perform" rating on the basic materials company's stock. Scotia's price objective would suggest a potential upside of 45.84% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Stifel Nicolaus increased their price objective on shares of Teck Resources from $82.00 to $95.00 and gave the stock a "hold" rating in a research note on Tuesday, October 20th. Weiss Ratings downgraded shares of Teck Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen downgraded shares of Teck Resources from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.14.

Teck Resources Stock Performance

Shares of TECK stock traded down $3.38 during trading hours on Friday, reaching $60.34. 1,286,264 shares of the company traded hands, compared to its average volume of 3,501,174. Teck Resources has a 12-month low of $38.00 and a 12-month high of $72.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. The company has a market cap of $29.15 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.01 and a beta of 1.01. The firm has a 50-day moving average price of $66.27 and a 200 day moving average price of $60.39.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds have recently bought and sold shares of TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock worth $1,139,051,000 after buying an additional 3,211,985 shares in the last quarter. HBK Investments L P lifted its holdings in shares of Teck Resources by 264.2% in the 2nd quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock valued at $343,270,000 after acquiring an additional 4,188,029 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources by 7.1% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company's stock valued at $294,015,000 after acquiring an additional 378,069 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Teck Resources by 48.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company's stock valued at $272,955,000 after acquiring an additional 1,720,066 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Teck Resources by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company's stock worth $268,261,000 after acquiring an additional 28,531 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

More Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Strong third-quarter results: Teck reported quarterly revenue of $3.17 billion, up 33.4% year over year and above the $3.04 billion consensus estimate. Reported EPS also exceeded expectations, with sources citing $1.34 and $1.88 per share versus the $1.06 consensus, while record copper prices and sustained operating performance supported results. Teck Reports Unaudited Third Quarter Results for 2026
• Positive Sentiment: Analysts raised several earnings forecasts: Zacks Research increased its estimates for the first, second, third and fourth quarters of 2027. Its FY2027 EPS forecast rose to $3.39 from $2.48, indicating improved expectations for near-term operating performance. Teck Resources Q3 Key Metrics
• Positive Sentiment: Dividend declared: Teck approved an eligible quarterly dividend of C$0.125 per share, payable December 31 to shareholders of record December 15. The dividend signals continued shareholder returns, although the indicated yield is modest at about 0.8%. Teck Announces Dividend
• Neutral Sentiment: Mixed forward outlook: Zacks estimates FY2026 EPS at $4.30, close to the $4.32 consensus, but FY2027 EPS at $3.39 would represent a decline from FY2026, suggesting that some of the current earnings strength may not persist.
• Negative Sentiment: Labor disruption risk: Teck faces a strike at its Highland Valley Copper mine. A prolonged work stoppage could reduce copper production, revenue and cash flow, offsetting the benefit of strong copper prices. Teck Resources Faces Strike at Highland Valley Copper Mine

About Teck Resources

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck's copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.

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