Teck Resources Ltd and First Quantum Minerals Ltd upgraded at Canaccord

Teck Resources Ltd. and First Quantum Minerals Ltd. were upgraded at Canaccord Genuity, where analyst Dalton Baretto sees a “pinprick of light in the commodities tunnel.”

Telling clients that the long-term demand fundamentals remain positive, he assumed coverage of the Canadian base metals sector by raising his rating on Teck to hold from sell, and upping his recommendation on First Quantum to buy from hold.

The other two names under coverage – HudBay Minerals Inc. and Lundin Mining...

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