5 Best Undervalued Large-Cap Stocks According to Hedge Funds

1. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 40

PE Ratio: 9.11

Teck Resources Limited (NYSE:TECK) is a diversified metals and mining firm. The stock, which has key stakes in the copper business, was boosted in the past few months as copper prices climbed to all-time highs in the wake of supply chain disruptions and low stockpiles. In recent weeks, however, a rise in COVID-19 cases from China has renewed investor concerns around demand, leading to a drop in copper price. In the fourth quarter of 2021, the firm posted a 72% year-on-year increase in revenue. 

On March 31, investment advisory Raymond James maintained an Outperform rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target to C$58 from C$52. Analyst Brian MacArthur 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. 

At the end of the fourth quarter of 2021, 40 hedge funds in the database of Insider Monkey held stakes worth $1.6 billion in Teck Resources Limited (NYSE:TECK), compared to 41 in the previous quarter worth $1.3 billion.

You can also take a peek at 10 Stocks Reddit’s WallStreetBets is Buying in July 2021 and Top Robinhood Stocks Popular on Reddit.

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