0917 ET - Teck Resources' balance sheet is looking strong enough to support its growth ambitions and still see it continue to return capital to shareholders, says Raymond James' Brian MacArthur. He notes the Canadian miner's recent investor day highlighted a balanced capital-allocation strategy of returns and investment in internal growth. Following the sale of Teck's coal assets and repurchase of debt, it is still with a strong net cash position, the analyst notes. Raymond James has an outperform call and C$75 target on the shares, which last closed at C$67.57. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 09:17 ET (14:17 GMT)
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