Bullboard - Stock Discussion Forum Teck Resources Ord Shs Class A T.TECK.A

Alternate Symbol(s): TECK | T.TECK.B | TCKRF

Metals & Mining Industrial Metals & Minerals

Teck Resources Limited is a Canadian resource company. The Company operates a portfolio of copper and zinc operations across North and South America. The Company’s operations and projects include Antamina, Cardinal River, Galore Creek Project, Carmen de Andacollo, Highland Valley Copper, Trail Operations, Quebrada Blanca, Carmen de Andacollo, HVC Mine Life Extension Project, Galore Creek... see more

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TSX:TECK.A - Post Discussion

Teck Resources Ord Shs Class A > From Banque Nationale

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Post by Nadia6519 on Apr 28, 2022 7:31am

From Banque Nationale

TECK RESOURCES LIMITED: Elevated Coal Prices and Cost Management Reaffirm Teck as Our Top Pick Full TECK.B/TECK (TSX; NYSE) C$50.43;US$39.06

Target: C$65.00 (Unchanged) Stock Rating: Outperform (Unchanged)

Est. Total Return: 30.9% Shane Nagle, CFA - (416) 869-7936 Associate Lola Aganga, M.Eng. - (416) 869-6516 Associate Ahmed Al-Saidi - (416) 869-7535 Event: Incorporating Q1/22 financial results.

Key Takeaways: We incorporated Q1/22 results and continue to expect a re-rating to more normalized multiples given elevated coking coal prices and step-wise improvement in both Teck's coking coal and copper operations in 2022. Our Outperform rating is supported by current coking coal prices, a strong balance sheet, cost reduction initiatives offsetting inflationary pressures, organic growth within the copper division and commitment to returning capital to shareholders.

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