06:17:51 EST Sun 23 Feb 2020
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Teck Resources Ltd
Symbol TECK
Shares Issued 539,527,734
Close 2020-02-13 C$ 18.56
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Successful Inv refreshes Teck Resources buy

2020-02-14 20:50 ET - In the News

The Successful Investor, in the February, 2020, issue, refreshes its buy of Teck Resources Ltd., recently $21. The Investor said buy 32 times from September, 1996, to September, 2019, 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 32 buys, the $32,000 position is now worth $40,614. Teck produces coal, copper, zinc and oil. Only coal is mentioned in the Investor's update this month. Teck has extended its agreement with Ridley Terminals Inc. to use Ridley's port facility in Prince Rupert, B.C., to ship metallurgical coal from Teck's coal mines in British Columbia to steelmakers in Asia. The new deal runs from January, 2021, to December, 2017. The terms of the deal will also allow Teck to double its coal shipments through Ridley to six million tonnes annually from just three million. The Investor applauds the arrangement, saying Teck will now enjoy more flexibility over its B.C. coal shipments, which in turn should lead to greater efficiencies and ultimately higher profits. The stock remains a buy.

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