5 Best Mineral Stocks To Buy Now

2. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 40

Teck Resources Limited (NYSE:TECK) is a diversified metals and mining firm. The rise in coal prices over the past few weeks, in part due to increased demand that outstrips production, has benefited the stock. The company recently posted record-shattering earnings results, beating estimates on earnings per share by C$0.39 and on revenue by $330 million. It has also recently signed a $4 billion revolving credit facility linked to sustainability that will mature in 2026. 

On October 28, investment advisory BMO Capital maintained an Outperform rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target to C$54 from C$50. Jackie Przybyłowski, an analyst at the advisory, issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, United Kingdom-based investment firm Contrarius Investment Management is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 7.3 million shares worth more than $170 million.