5 Best Mining Stocks To Buy Now

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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 actively involved in the extraction and exploration of diverse minerals, including copper, coal, zinc, and oil. With operations spanning across Canada, Chile, Peru, and the US, the company is structured into five distinct business segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate.

On November 13, Teck Resources Ltd (USA) (NYSE:TCK) unveiled its intentions to divest its entire interest in its steelmaking coal business, estimating its value at $9.0 billion. The agreement involves 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 aimed at fortifying the company’s balance sheet, returning cash to shareholders, and unlocking value from its copper growth portfolio.

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

Disclosure: None. You can also take a look at 11 Cheapest Stocks With Biggest Upside and 13 Best Growth Stocks To Buy According To George Soros.

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