Teck Resources Share Price Soars 4.75% on Analyst Upgrades, QB2 Project Momentum

The share price of Teck Resources rose to its highest level so far this month, climbing 4.75% intraday on January 6. The surge pushed the stock to a 4.41% gain over two days, marking a notable rebound amid a backdrop of analyst activity and operational momentum.

Recent analyst actions have underscored the stock’s trajectory. Jefferies initially raised its price target to C$80 in October 2025, citing optimism around Teck’s Quebrada Blanca 2 (QB2) copper project in Chile, which is projected to boost attributable production by 80%. However, a subsequent reduction to C$71 in December 2025 reflected cautious sentiment. CIBC and Citigroup also raised targets to C$61 and C$60, respectively, emphasizing strengths in metallurgical coal and copper. These adjustments, coupled with Teck’s status as the second-largest seaborne metallurgical coal exporter, highlight its strategic position in energy transition-driven markets. The QB2 project’s anticipated output aligns with rising global demand for copper in electric vehicles and renewables, reinforcing long-term growth potential.

Teck’s financial performance and market metrics further support its recent gains. A recent quarterly report showed C$0.57 earnings per share and C$3.39 billion in revenue, driven by coal and copper operations. The stock’s elevated beta (1.91–2.03) and 37.46 debt-to-equity ratio indicate high volatility and leverage, amplifying both upside and downside risks. Meanwhile, strong demand for base metals amid decarbonization efforts has bolstered investor confidence, with copper and zinc critical to infrastructure and renewable energy sectors. Despite macroeconomic uncertainties, Teck’s diversified portfolio and operational scale position it to capitalize on structural trends, though its valuation premium and debt levels warrant caution for risk-sensitive investors.