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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (53672)	1/22/2019 7:18:01 AM
From: Goose94	Read Replies (1) of 203160

Teck Resources (TECK.B-T) CIBC World Markets analyst Oscar Cabrera lowered his base metal forecast on Monday to reflect "negative impact of escalating trade wars on global growth." Mr. Cabrera is taking a "more cautious stance" on base metal mining equities. Mr. Cabrera continues to rate Teck Resources "outperformer," with a $45 share target. Analysts on average target the shares $40.46. He says Teck is one of his top picks "in the current challenging macro-economic environment." Mr. Cabrera says in a note: "The company has one of the highest average 2019-2020 estimated free cash flow (FCF) yields among our coverage universe (6.5 per cent versus a weighted peer average of negative 0.6 per cent), strong balance sheet (peak net debt to EBITDA at 2.5 times in 2019), potential to increase cash return to shareholders after closing the Quebrada Blanca Phase 2 (QB2) transaction in Q2/19 and organic growth in its copper business, with attributable copper production increasing over 50 per cent to 440,000 tons once QB2 ramps up by 2023."

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