Is Teck Resources Limited (TECK) Trading at a Reasonable Valuation?

White Falcon Capital Management, an investment fund manager, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.5% compared to the S&P 500 (CAD), the MSCI All Country (CAD), and the S&P TSX’s returns of -0.9%, -1.2%, and -2.2%, respectively. After a great surge in the first half of the year, the market cooled off in the third quarter, and the portfolio lost some of its gains. In addition, please check the fund’s top five holdings to know its best picks in 2023.

White Falcon Capital Management highlighted stocks like Teck Resources Limited (NYSE:TECK) in the third quarter 2023 investor letter. Headquartered in Vancouver, Canada, Teck Resources Limited (NYSE:TECK) engages in the exploration, acquisition, development, production, and sale of natural resources. On October 13, 2023, Teck Resources Limited (NYSE:TECK) stock closed at $38.91 per share. One-month return of Teck Resources Limited (NYSE:TECK) was -10.14%, and its shares gained 18.52% of their value over the last 52 weeks. Teck Resources Limited (NYSE:TECK) has a market capitalization of $20.193 billion.

White Falcon Capital Management made the following comment about Teck Resources Limited (NYSE:TECK) in its Q3 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon, and Teck Resources Limited (NYSE:TECK), to name a few holdings from the White Falcon portfolio. Teck Resources recently finished the construction of a copper mine in Chile, known as QB2, and due to inflation, its replacement cost will far exceed its original expense. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

An aerial view of a large gold mine showing the extensive activity of natural resource extraction. Editorial photo for a financial news article. 8k. –ar 16:9

Teck Resources Limited (NYSE:TECK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 79 hedge fund portfolios held Teck Resources Limited (NYSE:TECK) at the end of second quarter which was 66 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.