Successful Investor says buy Teck
Teck Resources Ltd (C:TCK)
Shares Issued 567,019,282
Last Close TCK.B 10/7/2016 $23.24
Friday October 7 2016 - In the News
The Successful Investor, in the October, 2016, issue, says buy Teck Resources Ltd., recently $23. The Investor said buy 26 times from September, 1996, to April, 2016, at prices ranging from $10 to $90 (the stock split 2 for 1 in May, 2007). Assuming a $1,000 investment for each of the 26 buys, the $26,000 position is now worth $39,491. In this brief update, the Investor says Teck has risen steadily from a low of just $3.65 in January, thanks in part to improving prices for metallurgical coal. This is a key ingredient in steelmaking. New Chinese limits on coal production, coupled with weather-related disruptions at China's coal mines, have pushed up coal prices and forced China to import more coal from international suppliers such as Teck. The Investor reckons that coal prices could reach $125 (U.S.) a tonne in the fourth quarter of 2015, up from around $90 (U.S.) in the third quarter. Teck is a buy.
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