Teck Resources (TECK – Research Report), the Basic Materials sector company, was revisited by a Wall Street analyst on February 24. Analyst Nathan Martin from Benchmark Co. maintained a Buy rating on the stock and has a $55.00 price target.
Nathan Martin has given his Buy rating due to a combination of factors that highlight Teck Resources’ strategic focus on growth, cost reduction, and shareholder returns. Despite a slight miss in the fourth-quarter adjusted EBITDA, Teck Resources has maintained its full-year 2025 guidance targets, indicating confidence in its operational plans. The company is expected to see a significant improvement in net cash unit costs at its QB operations, driven by disciplined cost management and increased copper production.
Additionally, Teck Resources is actively engaging in shareholder returns, with substantial buyback authorizations remaining. The company is also exploring low-capital intensity growth projects, which could enhance its future growth prospects and make it an attractive M&A target. These strategic initiatives, combined with a robust growth pipeline, underpin Martin’s confidence in the company’s potential, justifying the Buy rating and a target price of $55.
According to TipRanks, Martin is a 5-star analyst with an average return of 19.5% and a 58.33% success rate. Martin covers the Basic Materials sector, focusing on stocks such as Suncoke Energy, Teck Resources, and Warrior Met Coal.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $52.50 price target.