My top performing stock since the start of the year comes from the Basic Materials sector. As part of my overall portfolio strategy. I’m overweight Basic Materials in the U.S., Europe and Canada. The stock is a Canadian mining company, Teck Resources Ltd. (Ticker: TCK-B.TO). While listed on the NYSE, my shares were bought on the Toronto exchange.
Year-To-Date Teck Resources has gained 179.4%, outperforming the S&P 500 Materials index (gain 11.5%). Obviously this position is a target for trimming.
Year-To-Date Chart for Teck
Some Basic Information about Teck Resources Ltd.
Teck Resources Ltd is engaged in mining and related activities including exploration, development, processing, smelting, refining and reclamation. Teck operates through segments: steelmaking coal, copper, zinc and energy. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the company exports seaborne steelmaking coal and produces mined zinc.
Teck also produces lead, molybdenum, silver, various chemicals and fertilizers. It has energy assets in Alberta which includes an interest in the Fort Hills oil sands project, interest in the Frontier oil sands project and in various other oil sands leases in the exploration phase.
The Rolling 1-Month Chart for Teck
The Rolling 1-Year Chart for Teck
Headlines for Teck Resources
What do You Think?
My overweight positions in the Materials sector are in companies with assets around the globe but headquartered in the advanced economies. The positions are long-term investments. I will write more on my reasoning in a later post but would be interested to hear where you, as a value investor, are overweight.
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