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

One of the strongest base metal names. If it gets below $28 then something bigger is happening in the world. (0.7% yield, $41.40 analysts' price target)

Canada's go-to mining stock and a relatively stable one. It has survived a rough period of acqusition/heavy leverage/stock sell-off. Market sentiment towards mining overall remains weak (and he prefers the oil sector), so he holds little mining.

Optimal hold from November 20 to February 14. Moving averages curling over. Don’t get excited yet. Wait for a better entry point. (Analysts’ price target is around $41)

He's between a buy and hold. The biggest headwind for commodities has been the U.S. dollar which he expects to peak soon then decline. Metallurgical coal prices are hanging in better. Teck has used the m-coal boom of the last few years to pay down their debt. Now, their balance sheet is strong and they have decent cash flow. This is one of the better stories in large-cap materials stocks.

Uptrend during 2016, a pullback in 2017, then another uptrend since mid-2017, though a slight downtrend this year. It's starting to look attractive now. He would add on weakness here.

This is the best mining company in Canada to be in because most of its assets are in North America. This provides relative political stability. The problem is that commodity prices are not currently doing well, and investors should only want to own miners when their commodities are going up or stable, or when the prices are in the pits and people are giving the stocks away.

Solid company. This will be really good to buy when copper bottoms. Copper has been pulling back. Don't buy now, but watch it.

Mining companies are difficult. There is going to be high demand for it. If he was looking at a mining company this is the one he would look at.

He put it in his model portfolio this year. He thought it would get through $38 and make it to $64. The fair market value is huge. Unfortunately resource stocks tend to be cheapest at market tops. It has a nice balance sheet and he thinks the value is there.

There has been a tail wind in the commodity sector as of late. They have done a great job to deleverage their business. As China slows down this could cause some issues. It is fairly valued here.

He owns mining companies only once a decade because he cannot forecast the price of resources. Also, miners tend to start to invest with cash flow whenever the commodity price goes up so when it goes down again they get saddled with it.

The sector has been consolidating, but the basic materials should participate in the next move higher. They have a great collection of assets to participate in the next move up. He would first like to see a move higher before jumping in, particularly in the base metal prices.

He believes in a future commodoties play and feels this stock will return to old highs. This is a trade, not a hold, because the sector is so cyclical.

You have to wait a while like 3-5 years to see how trade patterns will shake out. This is being--and will be--impacted by tariffs and trade wars. Commodities in general are entering a volatile period. Long-term, Teck is a good company
and has improved over the years. They're well-diversified across copper and coal.

Base metals could benefit from any trade war positive news and could see a $7-$8 move quickly, which would test resistance near $39. Seasonality is working against the base metals at the moment until October. He likes this as a good long term risk-reward, but it could potentially re-test the $22 range.