5 Best Coal Stocks To Invest In

1. Teck Resources Ltd (NYSE:TECK)

Number of Hedge Fund Holders: 56

Teck Resources Ltd (NYSE:TECK) is a Canadian diversified mining company which deals in the production and worldwide supply of steelmaking coal, gold, copper, lead and silver, as well as chemicals, fertilizers, and other metals. With inflation and a supply bottleneck driving the prices of all these natural resources high, Teck Resources Ltd (NYSE:TECK) stands to benefit as one of the biggest mining firms in the world. As of June 8, it has gained 93.16% in the last 12 months, and 57.13% so far in the year.

Reporting its Q1 earnings on April 27, Teck Resources Ltd (NYSE:TECK) disclosed earnings per share of $2.31, beating estimates by $0.06. Revenue of $3.93 billion for the quarter also exceeded analysts’ predictions by $16.1 million, and represented year-on-year growth of 89.76%. On April 28, B. Riley analyst Lucas Pipes gave Teck Resources Ltd (NYSE:TECK) an unchanged rating of ‘Buy’ and raised the price target to C$58 from C$57, after the firm beat Q1 expectations.

With a $495 million stake, Soroban Capital Partners was the largest shareholder of Teck Resources Ltd (NYSE:TECK) in the first quarter of 2022. Overall, investors were seen piling into Teck Resources Ltd (NYSE:TECK) at the end of the first quarter, where 56 hedge funds owned positions in the company with a combined value of $2.64 billion.  This is in contrast to 40 hedge funds a quarter earlier with $1.62 billion worth of stakes in the mining firm.

You can also take a look at 15 Fastest Growing Industries In the World and 12 Best Mining Stocks to Buy Now.

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