10:48 AM EDT, 06/10/2024 (MT Newswires) -- Teck Resources (TECK-B.TO), Capstone Copper ( CSCCF ) , Hudbay Minerals ( HBM ) and Filo ( FLMMF ) are among National Bank of Canada's top picks in the base metals sector, the bank said in a note over the weekend.

National Bank said Teck's expected sale of its steelmaking coal business in the third quarter will provide significant cash to bolster the balance sheet, support copper growth and return cash to shareholders.

For Capstone, the bank said the company's Mantoverde and Mantos Blancos expansion projects, which are expected to be completed in the second half, will draw investors to the stock under an improved backdrop for copper prices.

National Bank said Hudbay's leverage to elevated copper and gold prices and a discounted valuation position the company favorably ahead of a possible partnership agreement or further advancement of the Copper World project.

Meanwhile, the bank said Filo's ( FLMMF ) year-round drilling continues to expand into mineralization along the entirety of strike while infilling Aurora-Bonita, giving resolution to a large-scale open-pit scenario and maiden sulfide resource.

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