BMO Capital Markets Comments on Teck Resources
BMO Capital Markets provided color on Teck Resources (NYSE: TCK) in a research report published today. BMO Capital Markets has an Outperform rating and $60 price target on Teck Resources.
In the report, BMO Capital Markets states, "Teck Resources announced that the United Mine Workers of America Local 7619 has issued a strike notice for its Highland Valley Copper Operations. The notice allows the union to initiate a strike no earlier than October 2, 2011. The current Highland Valley labor agreement expires on September 30, giving the parties three days to settle without a strike. In the event of a strike, BMO's estimates the impact on FY2011 EPS will be nominal."
Shares of Teck Resources were trading at $29.39 at the time of posting, down 0.88% from Thursday's market close.
