MM’ thoughts on Teck Resources (Canada)?
Hi James et.al, Any thoughts on Teck Resources (Canada) esp in the Cu space? Cheers, Jeff (one happy reader)
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Answer
Hi Jeff,
Vancouver based $CAD30bn mining company Teck Resources (TEC/A CN) produces a diversified group of metals including zinc, copper and gold spanning across the US, Canada, Peru and Chile.
The business is Canadas largest diversified miner whose revelling in the elevated commodity prices and using the increased revenue to reduce debt and buyback stock. In the first Qtr. of 2022 it enjoyed a more than three fold lift in EBITDA to $3bn. Its gross profit in the copper division jumped 23%, which is helping the stock maintain its uptrend with a break of its $CAD64 2022 high looking likely over the months ahead i.e. over 12% upside.
