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  "docSlug": "baf493eda4f0",
  "documentTitle": "Teck Resources (TECK)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2021-05-12 00:00:00",
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  "notes": "The slide argues that consensus estimates are lagging behind commodity price increases, suggesting an earnings beat.",
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      "text": "They should beat consensus, which hasn't adjusted to recent commodity price increases.",
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      "text": "P/E: 9.6x",
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      "text": "Teck earned C$0.61 in the first quarter. For the year, we expect it to earn $3.23 Canadian dollars at the current copper curve and met coal at $150 per metric tonne, so it trades at 9.6x times 2021 earnings. They should beat consensus, which hasn't adjusted to recent commodity price increases. But, of course this is before QB2 comes on line. There is potential earnings surprise further to the upside if met coal prices rally.",
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      "text": "Source: Bloomberg LP, retrieved May 7, 2021; Greenlight calculations.",
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      "text": "Greenlight Adj. EPS vs Consensus Adj. EPS for 2021",
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      "evidence": "The presentation presents Teck Resources as a solution, highlighting its strong copper project pipeline and expansion plans.",
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