Bank of America Securities analyst Lawson Winder has reiterated their bullish stance on TECK stock, giving a Buy rating on April 22.
Lawson Winder has given his Buy rating due to a combination of factors including Teck Resources’ strong earnings performance and its promising growth outlook. The company reported a solid earnings beat in the first quarter of 2025, driven by higher provisional pricing adjustments, which exceeded both consensus and Bank of America expectations. Despite some challenges with the QB2 project, such as production tracking at the lower end of guidance and higher unit costs, Teck Resources maintains a robust capital return program and a solid balance sheet.
Moreover, Teck Resources has been actively repurchasing shares and maintaining its dividend, reflecting confidence in its financial position. The company’s long-term copper production growth prospects remain strong, supported by projects like QB debottlenecking and optimization, the Highland Valley Copper extension, and others. These factors, combined with the company’s ability to meet project financing requirements, underpin Winder’s positive outlook and Buy rating for the stock.
In another report released on April 22, Morgan Stanley also maintained a Buy rating on the stock with a $42.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is neutral on the stock.