Teck Resources: With China Reopening This Stock Could Do Well

Summary

  • Teck Resources is very well positioned for a strong copper market in 2023.
  • I run through Teck's 2023 capex requirements. I estimate that Teck will report close to CAD$4.3 billion in 2023.
  • Assuming a 30% return, this equates to approximately 5.2% annualized return. On top of its 1% base dividend.
  • Looking for more investing ideas like this one? Get them exclusively at Deep Value Returns. Learn More »
Production of copper wire, cable in reels at factory. Cable factory.

FabrikaCr

Investment Thesis

Teck Resources (NYSE:TECK) is well positioned for the copper sector showing strength. More specifically, with China's reopening, this will stimulate copper demand, as copper is intrinsically linked to the Chinese industrial sector.

I highlight how Teck is doubling

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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