Investorideas.com

Get investor ideas from our AI, cannabis, cleantech, crypto, gaming, mining, sports podcasts - be a guest or sponsor: call 800 665 0411


Share on StockTwits

Where Sustainability Meets Steel: Teck Resources Is Set to Outperform in 2022

Source: Streetwise Reports

October 26, 2021 (Investorideas.com Newswire) Citing the company's "long-term potential for significant share price improvement," BMO Capital Markets has upgraded Teck Resources to Outperform.


In a world that increasingly prioritizes decarbonization and sustainability,
you would think it would be tough times for a mining company. But,
noting "strong coal prices" combined with "solid strategy" revealed
in a virtual investor day, BMO Capital Markets has upgraded Teck Resources Ltd. (TECK:TSX; TECK:NYSE) to Outperform and raised their one-year target to CA$44.00/share (from CA$40.00/share).

In other words, by meeting the world's conflicting needs for both steel and sustainability, Teck Resources is poised for success.

According to a BMO report, "Yesterday's virtual investor day update provided helpful color company's operations, its corporate strategy, and sustainability initiatives. The important QB2 project is progressing on schedule, investments in technology are showing significant benefits, and cash flows are strong (especially in the case of sustained spot copper and coal commodity prices)."

After a year of COVID-19-related drops in demand, steel supply has become more limited than need. China, which accounts for more than half of the global steel output, has cut production an effort to reduce carbon emissions. However, Teck's investments in technology and use of cost-effective, low-carbon blast furnace and BOF steelmaking are showing significant benefits. Despite the world's increasing focus on decarbonization and sustainability,

Teck expects that blast furnace-based processes will still be important steelmaking processes in the foreseeable future.

As factors contributing to the decision to upgrade Teck to Outperform, BMO cited strong cash flows as prices remain elevated in Teck's key commodities and a clear and well-articulated strategy for integrating sustainability into production to meet global demand.

Disclosures:

1) Wendy Hubbert compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor/employee. He/she or members of his/her household own securities of the following companies mentioned in the article: None. He/she or members of his/her household are paid by the following companies mentioned in this article: None. His/her company has a financial relationship with the following companies referred to in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Teck Resources Ltd., a company mentioned in this article.

Disclosures from BMO Capital Markets, Teck Resources, Sept. 21, 2021

Analyst's Certification: As to each company covered on this website, the analyst hereby certifies that the views expressed accurately reflect the analyst's personal views about the subject securities or issuers. Each analyst also certifies that no part of the analyst's compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Limited are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Company Specific Disclosure Key (Last Updated March 9, 2020)

1 - BMO Capital Markets has undertaken an underwriting liability with respect to this issuer within the past 12 months.

2 - BMO Capital Markets has provided investment banking services with respect to this issuer within the past 12 months.

3 - BMO Capital Markets has managed or co-managed a public offering of securities with respect to this issuer within the past 12 months.

4 - BMO Capital Markets or an affiliate has received compensation for investment banking services from this issuer within the past 12 months.

5 - BMO Capital Markets or an affiliate received compensation for products or services other than investment banking services within the past 12 months.

6 - This issuer is a client (or was a client) of BMO Nesbitt Burns Inc., BMO Capital Markets Corp., BMO Capital Markets Limited. or an affiliate within the past 12 months: A) Investment Banking Services; B) Non-Investment Banking Securities Related Services; or C) Non-Securities Related Services.

7 - BMO Capital Markets or its affiliates expects to receive or intends to seek compensation for investment banking services from the company in the next 3 months.

8A - BMO Capital Markets or an affiliate has a financial interest in 1% or more of any class of the equity securities of this issuer.

8B - This issuer beneficially owns 5% or more of any class of common equity securities of Bank of Montreal.

8C - BMO Capital Markets or an affiliate has a financial interest in 0.5% or more in the issued share capital of this issuer.

8D - BMO Capital Markets or an affiliate has a short financial interest in 0.5% or more in the issued share capital of this issuer.

8E - BMO Capital Markets trades or may trade as principal in the debt securities.

9A - BMO Capital Markets makes a market in this security in Canada.

9B - BMO Capital Markets makes a market in this security in United States.

9C - BMO Capital Markets makes a market in this security in Europe.

9D - BMO Capital Markets makes a market in this security in Asia.

10 - A research analyst, associate, or any person (or their household members) directly involved in the preparation of this research report has a financial interest in securities of this issuer.

11 - A research analyst and/or associate who prepared this report and/or a household member is a member of the Board of Directors of this company or an advisor or officer of this company.

12 - A research analyst who prepared this report received compensation from the company in the past 12 months.

13 - A partner, director, officer, employee or agent of BMO Capital Markets is an officer, director, employee of, or serves in an advisory capacity to, this issuer:

14 - A partner, director or officer of BMO Capital Markets or the analyst involved in the preparation of this report has provided paid services to this issuer in the preceding 12 months, other than normal course investment advisory or trade execution services.

15 - A member of the Board of Directors of Bank of Montreal is also a member of the Board of Directors or is an officer of this issuer:

16 - A research analyst has extensively viewed the material operations of this issuer.

17 - The issuer has provided at its expense some or all of the itinerant travel for the research analyst related to facilitating a material site visit.

18 - A redacted draft of this report was previously shown to the issuer (for fact checking purposes) and changes were made to the report before publication.

19 - Custom Company Specific Disclosures.

20 - The issuer has a security with non-voting shares.

21 - The issuer has a security with variable voting shares.

22 - The issuer has a security with subordinate voting shares.

23 - The issuer has a security with restricted voting shares.

24 - BMO Capital Markets Limited acts as corporate broker to this issuer.

Other Important Disclosures: For Important Disclosures on the stocks discussed in this report, please go to https://researchglobal0.bmocapitalmarkets.com/public-disclosure/ or write to Editorial Department, BMO Capital Markets, 3 Times Square, New York, NY 10036 or Editorial Department, BMO Capital Markets, 1 First Canadian Place, Toronto, Ontario, M5X 1H3.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp







Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources

Gold-MiningStocks.com - investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

Get News on Mining Stocks