Teck Resources (NYSE:TECK) Stock Gets Price Target Cut from Canaccord Genuity Group

Key Points

• Canaccord Genuity cut Teck Resources’ price target to $87 from $96.50 while maintaining a “hold” rating, implying roughly 44% 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, producing an overall “Hold” consensus and an average price target of $74.14.
• Teck shares fell 5.3% to $60.34, while institutional investors own 78.06% of the company; recent investors including HBK Investments, Principal Financial Group and Arrowstreet increased their stakes.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK had its target price dropped by research analysts at Canaccord Genuity Group from $96.50 to $87.00 in a research report issued on Friday, BayStreet reports. The firm presently has a "hold" rating on the basic materials company's stock. Canaccord Genuity Group's target price would indicate a potential upside of 44.18% from the company's current price.

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

Teck Resources Trading Down 5.3%

TECK stock traded down $3.38 during mid-day trading on Friday, reaching $60.34. 1,286,264 shares of the stock traded hands, compared to its average volume of 3,501,174. Teck Resources has a 52-week low of $38.00 and a 52-week high of $72.56. The stock's fifty day moving average is $66.27 and its 200-day moving average is $60.39. 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 company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12.

Institutional Trading of Teck Resources

A number of institutional investors have recently added to or reduced their stakes in TECK. HBK Investments L P lifted its holdings in shares of Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock worth $343,270,000 after buying an additional 4,188,029 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 17.1% in the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock worth $1,139,051,000 after acquiring an additional 3,211,985 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Teck Resources by 48.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company's stock worth $272,955,000 after acquiring an additional 1,720,066 shares during the period. Amundi boosted its holdings in Teck Resources by 71.0% in the 1st quarter. Amundi now owns 1,424,706 shares of the basic materials company's stock valued at $73,729,000 after purchasing an additional 591,600 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Teck Resources by 161.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 885,158 shares of the basic materials company's stock valued at $45,817,000 after buying an additional 546,394 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Key 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

Teck Resources Company Profile

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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