Einhorn Touts Teck Resources With Copper Rally Enduring
- Hedge fund manager sees demand for metal outstripping supply
- He sees Canadian miner as a better bet than Freeport-McMoran
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Greenlight Capital’s David Einhorn said he recommend shares of Canadian miner Teck Resources Ltd. amid strong demand for copper and other commodities.
The pipeline of potential new copper capacity is low, and it takes a long time to create new mines, the hedge fund manager said Wednesday at the Sohn Investment Conference, which was held virtually this year. Demand is poised to outstrip supply in 2024, leading to higher copper prices, Einhorn said.