TSX:TECK.A - Post by User
Comment by
VOKBLVRon Nov 17, 2018 2:00pm
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Post# 28989752
RE:Morningstar
RE:MorningstarI do not have access to the Morningstar analyst commentary on Teck but did look at the numbers on Morningstar for P/E, Price/Book, Dividend Yield and from those numbers for Teck-other than dividends TeckB is priced much lower than its peers.
With respect to the general commentary on metals consumption going forward- it is hard to accept his premise that consumption of copper and zinc will be reduced as worldwide infrastructure spending has to increase or the bridges will fall down- the higways will be impassable and there will be no increase in electric vehicle sales. When your premise is wrong it is very likely your conclusion will also be in error. It is also notable that his price reccomendation for Teck is difficult to reconcile with the high probability that Teck will joint venture QB2, and regain Investment grade for its bonds
It is true that oil looks bad when you think about Fort Hills but lower cost diesel fuel for the mining operations and transportation will result in greater savings than the loss of revenue from the oil sands.