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.

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

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.

While we acknowledge the potential of TECK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TECK and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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