5 Best Commodity Stocks To Buy on the Dip

4. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 47

Loss in Share Price Over Past Six Months as of December 6: 18%

Teck Resources Limited (NYSE:TECK) engages in exploring, acquiring, developing, and producing natural resources in Asia, Europe, and North America. On October 14, Teck Resources revealed that it has agreed to deploy two electric tug boats at Neptune Terminal in Vancouver. The company will deploy tug boats in support of its climate goals. This will mark the first electric tugs operating in Canada as a full tugboat package for harbor assistance.

On November 1, Stifel analyst Alex Terentiew maintained a Buy rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target to C$61 from C$58.

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 12 million shares worth more than $366.7 million.