Topic: How To Invest

The Successful Investor Hotline – Friday, December 16, 2016

Article Excerpt

TECK RESOURCES LTD., $27.26, Toronto symbol TECK.B, is a leading producer of metallurgical coal, a key ingredient in steelmaking. It also produces copper and zinc. This week, the company announced that it will sell its highest quality coal for $285 U.S. a tonne in the first quarter of 2017. That’s higher than the $200 to $205 U.S. a tonne Teck expects to receive in the fourth quarter of 2016. However, that price range, includes some of the company’s lower-grade coal. In addition, Teck has now finalized a five-year agreement with unionized employees at its Fording River and Elkview coal mines in B.C. As a result, the company will record a one-time charge of $35 million in the fourth quarter of 2016. To put that amount in context, Teck earned $152 million, or $0.26 a share, in the three months ended September 30, 2016. OUR RECOMMENDATION: Teck is a buy. Teck recent coverage Hotline for November 25, 2016 November 2016 issue BOMBARDIER INC., Toronto symbols BBD.A $2.23…