TECK Should I Buy
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Teck Resources Ltd (TECK) is a good buy for a beginner investor with a long-term strategy and $50,000-$100,000 available for investment. The company's strong financial performance, positive sentiment from recent news, and bullish technical indicators support this decision. Despite the lack of Intellectia Proprietary Trading Signals today, the asset's fundamentals and growth potential make it a solid choice for long-term investment.
The technical indicators for TECK are bullish. The MACD histogram is positive and expanding, indicating upward momentum. The RSI is neutral at 70.334, and the moving averages (SMA_5 > SMA_20 > SMA_200) confirm a bullish trend. The current price of $61.1 in pre-market trading is above the pivot level of $59.187, with resistance levels at $62.008 and $63.751.
Strong Q1 financial performance with a 72% revenue increase and net income of C$819 million.
Regulatory progress on the merger with Anglo American, which could unlock significant synergies.
Positive sentiment from analysts, with multiple price target upgrades in recent months.
The merger with Anglo American still requires regulatory approvals from China and South Korea, which could delay full realization of synergies.
Analyst ratings remain mixed, with several 'Hold' ratings despite price target increases.
Teck Resources reported exceptional Q1 2026 results, with a 72% revenue increase to C$3.94 billion and net income of C$819 million. This follows strong Q4 2025 results, where revenue grew 9.76% YoY, net income increased 36.34% YoY, and EPS rose 42.31% YoY. Gross margin also improved significantly, up 66.43% YoY.
Analyst sentiment is cautiously optimistic. Recent upgrades include Deutsche Bank raising the price target to $62 with a 'Buy' rating and Benchmark increasing the price target to $67, citing strong value creation potential from the merger. However, several analysts maintain 'Hold' or 'Sector Perform' ratings, reflecting some uncertainty around the merger's finalization.
