UBS Upgrades Teck Resources (TECK) Stock to Buy From Neutral

Teck Resources Limited (NYSE:TECK) is one of the Best Mining Stocks to Buy According to Hedge Funds. On September 3, UBS upgraded the company’s stock to “Buy” from “Neutral” with a price objective of C$60, up from the prior target of C$56, as reported by The Fly. As per the analyst, the issues at the key mine Quebrada Blanca are not structural, while the production can increase to 270kt over the upcoming 12 months. Furthermore, the firm anticipates Teck Resources Limited (NYSE:TECK) to benefit from an improving copper price.

Furthermore, Teck Resources Limited (NYSE:TECK)’s Q2 2025 marked a huge milestone in the growth of its copper production, with regulatory approval and Board sanction for the construction of the Highland Valley Copper Mine Life Extension project. Teck Resources Limited (NYSE:TECK) saw adjusted EBITDA of $722 million in Q2 2025, which was marginally higher than the same period of last year, primarily because of improved profitability from its Trail Operations. This was partly offset by reduced copper and zinc prices. The company’s profit from continuing operations before taxes came in at $125 million in Q2 2025.

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Disclosure: None. This article is originally published at Insider Monkey.