Teck Resources Ltd. (B) (TECK.B-T)

QB2 will be a very valuable asset. Always bumps getting a new mine underway, but outlook for copper long term is very positive. Biggest risk to portfolios is that inflation eats your money, so you need to own things that can put up prices tomorrow if inflation goes up today.

Loves that it's focusing on copper and zinc. Very challenging to build those mines anywhere in the world, so it's great long term. But it is a commodity company, subject to swings in copper and zinc, and that's why he usually stays away from commodity companies.

Still likes it, given where we are in the cycle. Copper still has some room to run. Look at this one or IVN.

Good for 3-5 investment horizon. Earnings have been downgraded a bit, but overall the business is high quality. Very large asset base with good management team. Better than other options in the mining industry. 

Demand coming for power, but only so much copper being produced. New mine is operating on track with room to grow capacity. (Chile produces 30% of world's copper, but has little new capacity coming on.) Generates cash and will pay shareholders over time. Copper prices likely to be firm over the next 5 years, and both earnings and the multiple can double. Yield is 0.7%.

A multi-bagger during last commodity cycle. Stocks should start to behave better under the current easing cycle.

Can't have a view on this name without having a view on copper. Emerging view that historical cyclicality of copper may be dampened going forward by secular demand of greening the grid and EVs. But the cyclicality is still there. Global GDP growth is slowing, China's economy remains anemic underlying all the "stimulus".

There will be a time to get behind this name, but not right now. FCX would be his #1 choice, TECK.B #2.

(Note short timeframe.) Always M&A potential, but he kind of hopes not because it would take away some opportunity. Will be way higher in 5 years. Look at the last resource cycle from 2000-2011, this was up 1000%. Great cashflow generator, big dividend payer.

We're in a world of stickier inflation, cuts will be less than we think, economy is pretty robust. If so, these companies have pricing power. AI data centres and EVs need copper.

Good run earlier this year, but he sold on rapidly deteriorating RSI into the summer. Copper is the barometer of the global economies. Price of copper has come off really hard; mainly due to China weakness, but more recently across the globe and, in particular, the US. 

Goes back to the grid story. The grid is deteriorating. Copper is the biggest input into the wires necessary to feed our EVs and the like. The mine in Chile is now one of the fastest-growing large-cap copper plays out there. Likes it.

Not necessarily. All copper stocks have been under pressure, due to copper getting ahead of itself to over $5/pound. Shanghai inventories going higher, sector had a lot of speculative plays. Copper is still a good story. TECK story looks fantastic, now purely positioned as a copper/zinc player, which puts it more in the global arena. Generating cash. 

Leading Canadian resource company, focused on responsible operations. Sees upside. 9/10 on fundamentals, but only 4/10 on value. Diversified business model. Wait for more of a pullback, great long-term play.

Great company for copper exposure. Strong management team. Cycle indicating to higher demand for copper and other commodities. 

Inflation will continue to effect prices in commodities, which puts TECK in the right place at the right time.

Has enjoyed a good run to ride the boom in copper. A super company, but the price has risen far in the last 3 months.

They got rid of their coal assets and are now a premium pure copper play. It should get a premium valuation like other copper producers since there is a shortage of copper and new copper projects. Copper is needed for the electrical grid.