10 Best Australian Stocks to Buy According to Billionaires

5. Tamboran Resources Corporation (NYSE:TBN)

Number of Hedge Fund Holders: 4

Number of Billionaire Investors: 2

Total Value of Billionaire Holdings: $12.51 million

Tamboran Resources Corporation (NYSE:TBN) is a natural gas company that is committed to contributing to the global energy transition by producing natural gas in the Beetaloo Basin. The company focuses on supporting the net-zero carbon dioxide energy transition in Australia and the Asia-Pacific region through developing low CO2 unconventional gas resources in the Northern Territory of Australia.

On February 13, Jeff Grampp from Alliance Global Partners reiterated a Buy rating on the stocks with a price target of $32. Tamboran Resources Corporation (NYSE:TBN) has made considerable progress in drilling operations, notably with the SS-2H ST1 and SS-3H wells. The SS-3H well reached a record horizontal section within the Mid Velkerri B Shale. Moreover, the company also completed the drilling and stimulation of the SS-2H ST1 well, achieving new performance records in the Beetaloo Basin.

In a major infrastructural development, the company entered into binding agreements with APA Group to develop essential pipeline infrastructure and secured a $23 million line of credit from Macquarie Bank to support these initiatives. The company is focused on achieving first gas production by 2026, with infrastructure projects progressing on schedule. It is one of the best Australian stocks to buy according to billionaires.