Part of the weekly research here at The Acquirer’s Multiple features some of the top picks from our Stock Screeners and some top investors who are holding these same picks in their portfolios. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and Howard Marks. The top investor data is provided from their latest 13F’s. This week we’ll take a look at:
Teck Resources Ltd (TECK)
Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck’s primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world’s second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. It is building a major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, which will increase Teck’s attributable copper production by around 80%. Along with a number of additional copper growth options, Teck’s strategy is to rebalance its portfolio to low carbon metals such as copper.
A quick look at the price chart below shows us that the stock is up 22% in the past twelve months. We currently have the stock trading on an Acquirer’s Multiple of 3.90 which means that it remains undervalued.
Superinvestors who currently hold positions in the company include:
(Shares)
John Armitage – 11,396,059
David Einhorn – 2,236,518
Ken Griffin – 1,868,632
Stanley Druckenmiller – 1,780,705
Louis Bacon – 1,651,612
Israel Englander – 727,107
Steve Cohen – 371,300
Joel Greenblatt – 48,410
Lee Ainslie – 20,407
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