Teck Resources Ltd. (B) (TECK.B.TO) Buy, Sell…

Teck Resources Ltd. (B) (TECK.B.TO)

90.06

+0.07 (0.08%)

as of Sep 16, 2026, 4:02:07 pm Market Open.

551 watching

DON'T BUY

It's exposed to cyclical, industrial commodities. TECK produces metallurgical coal, steel and copper. They also have a stake in the Ft. Hills Oil Sands project. All these are tied to industrial production. World demand for these commodities could decrease in 2019. Given TECK's operating leverage, a 1-2% move in commodity prices could hurt their earnings 5-10%.

DON'T BUY

Volatile. You gotta be brave to invest in this. It's 100% dependent on commodity prices. He doesn't like that. He owns no minerals.

WAIT

This is a tough case. He likes the company and the results have been good. It looks quite cheap. The underlying commodities, zinc and copper, are just so low. He would be more comfortable if there was firming in the commodity pricing.

TOP PICK

Best risk-to-reward in the metal companies. Had $1.5 billion in cash. Trading at 3x enterprise value vs. peers at 5.7x. Its growing copper business will accelerate in the next year as it lowers costs. It's had a good move over the past two years. It's held very well in this space. Seasonality is in its favour, too. It's in a bullish pattern and it will be great if it breaks above $38. (Analysts’ price target is $40.04)

TOP PICK

He hasn't been in materials for a long time, so this holding is new for him. TECK is in coal which is stable because they sell it to the Japanese who are long-term buyers. TECK is also in copper and the Oil Sands. Prices will be okay for oil. They've added a lot debt to the balance sheet, but he bought it because they're paying it off and can manage it. The materials cycle will start again; he's confident the tariff situation will resolve itself soon. It's had a big pullback. but boasts a clean balance sheet while earnings will grow. Emerging markets will turn around. (Analysts’ price target is $40.17)

BUY

He sold it, and did well with it. Very well-run. But he's afraid of the outlook of many materials though. If materials sell-off, he'll buy this. Quality people and deposits.

COMMENT

They are integrated in the core part of global growth. The global growth story is slowing down. Growth over the last decade has been all fueled by debt. It does not mean we may not get a cyclical trade as China steps on the gas. Maybe you can get a trading rally. Analysts are 80% positive. (Analysts’ price target is $40.17)

WATCH

It is one of the higher quality names in the copper space. There will be choppiness ahead in the short term until we find the low and then it is positioned well to move higher.

WAIT

Nov. 26 is when you want to enter that sector. He would wait because it is in a downward trend. It has negative momentum.

WAIT

This name is quite volatile. Would prefer to buy it when it is back on the upswing. This is probably the only mining name he would own in Canada. It is well run with a diverse asset base. It is probably oversold at current levels. He likes the company and the space.

DON'T BUY

It's late cycle for TECK and related minerals companies. He owns very little in this space because he doesn't see upside. TECK itself is a good company.

BUY

A declining US dollar would be good for copper. This would be the safest place to make an entry into base metals. This is a good spot to be.

WATCH

He is very neutral right now, but would become a buyer in the $20 range. There is risk to a global China tariff war.

WEAK BUY

He thinks now is a good time to get half your position in. Most material stocks have not acted well this year. Late cycle in the bull trend, he thinks commodities will get another year or two of potential upside. He is watching this one right now.

PAST TOP PICK

(A Top Pick June 27/17 Up 52%) The commodity cycle has come back and the dividend is great. Still a cheap stock relative to its US peers. At some point they will buy more, if the share price drops. Copper is short and the company is making good cash flow as global demand continues to grow in India and China.

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Teck Resources Ltd. (B) (TECK.B.TO)