Mining stocks are cyclical, and their performance is tied to the prices of the commodities they mine. In the last two years, inflation and geopolitical tensions have raised commodity prices significantly, allowing mining stocks to realize outsized profits.
Earlier this week, prices for base metals spiked in London after regulators in the U.S. and U.K. banned the fresh trading of Russian-origin metals, including copper, aluminum, and nickel. Here is one quality mining stock that is set to benefit from sanctions levied on Russian metals.
The Bull Case for Teck Resources Stock
Valued at a market cap of $24.4 billion by market cap, Teck Resources (TECK) is among the largest mining companies in the world. A Canada-based diversified mining giant, Teck Resources produces copper (HGK24), zinc, and steelmaking coal.
Teck Resources is uniquely positioned to benefit from the rising demand for copper, which is expected to double by 2035….
