5 Best Materials Stocks To Invest In

2. Teck Resources Limited (NYSE:TECK)

Forward P/E ratio as of December 16: 8.84

Number of Hedge Fund Holders: 47

Teck Resources Limited (NYSE:TECK) is a natural resources mining company that engages in the exploration, development, smelting, and refining of metals and minerals. Steelmaking coal, copper, and zinc are among the company’s leading products.

On October 31, 2022, Lucas Pipes, an analyst at B. Riley, reduced his price target on Teck Resources Limited (NYSE:TECK) to C$48 while keeping a Buy rating on the stock. The analyst has a bullish outlook on coal prices in the near term and copper demand in the long run, which is why he keeps a Buy rating on Teck Resources Limited (NYSE:TECK).

According to Insider Monkey’s database, 47 hedge funds held stakes in Teck Resources Limited (NYSE:TECK) at the end of the third quarter ending September 2022. Soroban Capital Partners remained the leading stakeholder in the company at the end of Q3 2022.