Wells Fargo Backs Teck Resources as Top Copper Play Despite Sector Caution

Teck Resources Limited (NYSE: TECK) is one of the best commodity stocks to buy now. On August 8, 2025, Wells Fargo analyst Tiago Fauth reiterated an Overweight rating on the Canadian miner and set a $101 price target, describing it as “one of the most attractive risk/rewards” in his coverage.

Fauth pointed to Teck’s strong liquidity, with a current ratio of about 3.47, and argued that market skepticism does not match the company’s solid fundamentals and valuable exposure to long-term copper demand.

The upbeat view from Wells Fargo comes as other firms take a more measured stance. Benchmark maintained a Buy rating on July 28 but lowered its target from $55 to $48. B. Riley and JPMorgan have moved to Neutral, citing operational challenges at the Quebrada Blanca Phase 2 project and softer near-term expectations. Jefferies and Raymond James remain constructive but have also trimmed price targets.

Teck Resources is a diversified miner, headquartered in Vancouver, with major operations in copper, zinc, steelmaking coal and energy. Its assets span Canada, Chile and the United States, and it is positioning copper at the center of its growth strategy to capitalize on the global energy transition.

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Disclosure: None.