"They're going to buy their [metallurgical] coal business from their metals business. And they did it through a spinoff in a really clever way, where most of the cash flows for the next number of years are still going to go to the metal business even though they're going to come from the met coal business, and I think if we're going to have all of this electrification, we're going to need a lot more copper.
And that's really where the metals piece of the business is. It trades at a not exciting high single digit multiple of earnings, and I think that there's very little copper supply coming on in the intermediate term... If we're going to have all of these electric vehicles, we're going to need a lot more copper. So I'm really bullish on copper prices over the intermediate-term and I think Teck Resources will be a good beneficiary of that," Einhorn said.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The stock market is about to stage its strongest rally of 2023: Fundstrat6 reasons why the stock market is poised to see its strongest rally of 2023 over the next 2 months, according to Fundstrat alaskarebel Yes alaskarebel It pays to elect a Democratic President!!
Source: BusinessInsider - 🏆 729. / 51 Read more »