5 Best Coal Mining Stocks to Buy

1. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 66  

Teck Resources Limited (NYSE:TECK) is a diversified metals and mining firm. Recent reports indicate that Eric Sprott, a Canadian mining investor, has made an offer to invest in the coal unit of Teck. The investor is proposing to invest in coal operations that have been facing challenges due to the transition away from coal and increased environmental concerns. Sprott aims to capitalize on potential opportunities in the coal market and believes that there is still value in the industry. 

In late April, B. Riley analyst Lucas Pipes maintained a Buy rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target to C$68 from C$66, noting that the path of least resistance is for Teck shares to trade higher. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Soroban Capital Partners is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 11 million shares worth more than $404 million. 

At the end of the first quarter of 2023, 66 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Teck Resources Limited (NYSE:TECK), compared to 62 in the preceding quarter worth $2.5 billion. 

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