5 Best Materials Stocks To Invest In

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1. Teck Resources Ltd (USA) (NYSE:TECK)

Number of Hedge Fund Holders: 75

Teck Resources Ltd (USA) (NYSE:TCK) is a mining and mineral development company engaged in the extraction and exploration of various minerals, including copper, coal, zinc, and oil. Operating in Canada, Chile, Peru, and the US, the company is organized into five distinct business segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate.

On November 13, Teck Resources Ltd (USA) (NYSE:TCK) announced plans to divest its entire interest in its steelmaking coal business, valuing it at $9.0 billion. The agreement entails selling a 77% stake to Glencore plc for $6.9 billion in cash and a minority stake to Nippon Steel Corporation. The proceeds from this transaction are intended to strengthen the company’s balance sheet, return cash to shareholders, and unlock value from its copper growth portfolio.

As of Q3 2023, Teck Resources Ltd (USA) (NYSE:TCK) was held by 75 hedge funds, with the total shares valued at $2.7 billion. Eric Mandelblatt’s Soroban Capital Partners held the most shares, with ownership of 10.1 million shares valued at $434 million.

You can also check out our articles on Abrams Capital 13F: 10 Best Value Stocks To Buy and 15 Michael Burry Stocks Other Hedge Funds Like Most.

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