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

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

89.85

-0.14 (0.16%)

as of Sep 16, 2026, 8:00:00 pm Market Open.

551 watching

DON'T BUY

Really likes this as a business, but unfortunately the base metals part of the business is fairly economically sensitive. He is concerned about a weaker economy and the metals will under perform in the short run.

COMMENT

Have a good mix of commodities. They own 19% of Fording Coal (FDG.UN-T), which is up because of coal prices. Heavy into zinc, whose prices seem to be weakening. You could see near-term price weakness, but it is a solid company.

DON'T BUY

This is still not cheap enough for him to be in. He would find it much more attractive at under $20.

BUY

At a level where it is worth buying. One of the issues is that they have zinc, copper, coal, etc. and some of the commodities are not doing well right now but will do well down the road. A bigger issue is management that has been poor of late, and he is looking for changes in the next little while.

COMMENT

Has God really whacked because obviously it has a lot of zinc that is very economically sensitive. If you buy the super cycle theory that India/China keep the cycle up more than they would otherwise, it is probably over discounted and is probably a good entry point here.

WAIT

The next level down is $28.25. There is a vicious correction within the commodity space. There has been a slight decrease in only earnings revisions but his model price is $68.72, 100% positive differential, but realistically it wants to go to where it can hold the line here against the selling, which he thinks is $28.25.

COMMENT

He is very nervous about the valuation in base metal mining. This is the only one left in Canada. There are a lot of things hanging over it. Overpaid on acquisitions. Would look at backing up the truck in the high $20s.

BUY ON WEAKNESS

(Market Call Minute.) By at around the $30 level.

BUY

This has been a challenging company. It is more a conglomerate of resources as opposed to a specific play. It should trade up modestly over the next little while.

BUY

(Market Call Minute.) Long-term Buy. Cheap on P/E ratio. Flat earnings for the next year or so as well as potential pressures on base metal prices.

DON'T BUY

A conundrum because it is a great combination of gold and base metals. He would much rather have pure plays. He is bullish on gold but is concerned about base metals.

WAIT

Doesn't think the weakness in base metals is over yet and would wait it out. There was almost a double top last summer with a lower high. Chart also indicates it had a rising wedge before falling.

BUY

Canadian miners have been hurt because costs are largely in Canadian $’s and the selling price is in US$’s. The worst of that is behind them. Metal prices have also come off for the most part. One of the worst performing has been zinc, their biggest product. He believes we are going into a severe slowdown, possible recession in the US, so he doesn't see a recovery in the near term. However, demand from Asia will prevent them dropping to disaster levels. A Buy for mid-to long-term investors.

BUY

Has been oversold at 7X earnings. It is the only large sized diversified miner left in Canada. Good buying opportunity.

COMMENT

Have bought and sold this one well. Looking at the earnings and cash flow growth, this year over next year, it is pretty flat. There also were worries about the declining base metal market. Its combined market cap is about $35 billion. P/E is about 12 to 14. On a worldwide basis it is cheap.

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