RE: nice valuation ! You are forgetting the $7 billion in debt. I look at the latest book value from the balance sheet, just over $18billion. Trading today at just over $16 billion. However here is my thoughts. This could trade much lower until the market sees something concrete from Teck.
examples
- significant buy back of shares 10- 20 million shares
- increase in dividends- present yield is over 2.8%, much less than FCX, and certainly much less than alot of TSX stocks
- announce a sale of the oil sands assets, they will not be going to production, Suncor has already hinted at this, the return on these projects are not worth the investment
- cut back on costs, and cut back on capital expenditures, it is time to realize that the world is messed up and time to get conservative, commodity prices are based on supply and demand, well time to decrease supply.
The price can go much lower from here without some of the above happening
Disclosure- long TCK