Scotiabank Raises Teck Resources (TECK) PT to C$70 on Strong Liquidity, Zinc Segment Performance

Teck Resources Limited (NYSE:TECK) is one of the best Canadian stocks to buy now. On September 10, Scotiabank raised the firm’s price target on Teck Resources to C$70 from C$55, while keeping an Outperform rating on the shares. Previously, the company reported that for Q2 2025, Teck Resources maintained $8.9 billion in liquidity, which included $4.8 billion in cash.

The company continued to return cash to shareholders in the said quarter, with $487 million in share buybacks and $61 million in base dividends, which brought the year-to-date total to over $1.1 billion returned.

The company’s Zinc segment particularly saw a strong performance in Q2, with gross profit before depreciation and amortization increasing by 137% to $159 million. Net cash unit costs for Zinc improved to $0.49 per pound. However, challenges were noted at the QB operation, where ongoing Tailings Management Facility development work has limited mill online time and led to a revised production outlook.

Teck Resources Limited (NYSE:TECK) researches, explores, develops, processes, smelts, refines, and reclaims mineral properties in Asia, the Americas, and Europe. It operates through the Copper and Zinc segments.

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