5 Best Zinc Stocks to Buy in 2023

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1. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 79

Value of Hedge Fund Holdings: $2,354,476,900

Teck Resources Limited (NYSE:TECK) is a Vancouver, Canada-based mining and exploration company that is considered one of the biggest zinc miners in the world.

Teck Resources Limited (NYSE:TECK) is the operator of the Red Dog mine in northwest Alaska and Trail Operations in British Colombia, Canada. The Red Dog mine is expected to continue operations till 2031. Teck Resources Limited (NYSE:TECK) has the capacity to produce 295,000 metric tonnes of refined zinc annually. The company generated 20% of its top line from zinc in 2022 as it mined 650,000 metric tons of zinc concentrate.

Here’s what L1 Capital said about Teck Resources Limited (NYSE:TECK) in its Q1 2023 investor letter:

“The broad-based market sell-off in mid-March from the banking crisis allowed us the opportunity to add to several of our high conviction long positions at exceptional prices, including:

Teck Resources Limited (NYSE:TECK): We added to our holding around C$46 after a 15% share price fall. Teck subsequently received an all-share takeover offer from Glencore in early April at an implied value of C$58 per share.”

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