Q: There haven't been a lot of questions on Teck in the past few month, and I see you recommended it as a long term hold. It's had a good run up - does It still have legs for 2+ years, or is it clearly a 5+ year hold? I own Capstone - is there too much overlap here?
5i Research Answer:
The outlook for copper and other metals we think remains decent, and thus TECK should benefit. But, the sector will always be cyclical. We would be more confident over two years than five. CS is nearly all copper. There is some overlap, certainly but we think both can be owned for diversity.