I've settled on TECK for our copper play in the LTP. Copper is only about 23% of their revenue but it's 28% of their earnings and they are fairly small ($21Bn) and making $2.8Bn and should really lever up. 37% of Revenue and 40% of profit comes from Steelmaking Coal and then Zinc is most of the rest. They are dumping their Coal Business - a move I'm very happy with:
🤓 Here is an investor report on Teck Resources (TECK) based on the information available from various sources.
The Good
- Teck Resources reported solid earnings for the fourth quarter of 2023, with total revenue of $2.68 billion, operating income of $0.6 billion, and basic earnings per share of $0.571. These results were driven by the strong performance of its steelmaking coal and copper segments, which benefited from the high demand and prices for these commodities1.
- Teck Resources declared a quarterly dividend of $0.25 per share, up 25% from the previous quarter, and a special dividend of $0.75 per share, returning a total of $0.8 billion to shareholders1. The company also announced a new $0.5 billion share buyback program to be completed by the end of 20241.
- Teck Resources is investing in growth projects and innovation to enhance its portfolio and competitiveness. The company is advancing its Quebrada Blanca Phase 2 (QB2) copper project in Chile, its Neptune Bulk Terminals expansion project in Canada, and its Fort Hills oil sands project in Canada1. The company is also developing low-carbon technologies, such as the Elkview Saturated Rock Fill (SRF) facility, which reduces greenhouse gas emissions from steelmaking coal operations1.
- Teck Resources is committed to environmental, social, and governance (ESG) excellence and stakeholder engagement. The company has set a target to be carbon neutral across its operations and value chain by 20501.
