Teck to temporarily shut down of mill, shiploader, says RBC Capital

RBC Capital expects a “slight” negative reaction to Teck Resources (TECK) shares on Monday after the company announced a temporary shutdown of a copper grinding mill at its Andacollo mine and a shiploader at QB2 for repairs. While the two are unrelated events, both outages are expected to last about a month, the analyst tells investors in a research note, adding that the impact of the shiploader shutdown should be largely muted as issues at the standalone QB2 port can be mitigated with the company leveraging other ports, or alternatively, concentrate could instead be trucked. The firm made no change to its Outperform rating or C$82 price target