11:09 AM EDT, 04/05/2024 (MT Newswires) -- National Bank of Canada said Thursday that Teck Resources Ltd. (TECK-B.TO) and Capstone Copper Corp. ( CSCCF ) are among its "top picks", while Filo Corp. ( FLMMF ) is seen as a "top developer" in its base metals coverage.

According to the bank Teck is "well-positioned to consolidate assets" while Capstone, Filo Corp. ( FLMMF ) and Solaris Resources Inc. ( SLSSF ) are acquisition targets.

The bank noted several companies within its coverage universe are scheduled to complete transformational development projects this year. So far, National Bank said, valuations remain "fairly well supported" -- but it added investors are most likely to reward companies that are able to hit production targets, keep costs under control and maintain development schedules.

The bank also said the lack of robust copper growth pipelines for industry majors and positive long-term fundamentals support the continued consolidation of the sector.

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