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Teck results signal mining stocks on the mend

Teck Resources Ltd. posted quarterly profits Thursday that were above analyst expectations. The company’s stock relative to commodity prices suggests that significant upside remains for investors.

Teck is the largest company in the S&P/TSX Diversified Metals Index and a bellwether for the sector. Thursday’s profit results – five cents ahead of expectations at $0.43 per share – are an optimistic sign that mining stock prices may be on the mend.