5 Fossil Fuel Stocks to Invest In for Future

2. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 46

Teck Resources Limited (NYSE:TECK) is a Canadian natural resources company that operates in Asia, Europe, and North America. The company produces and sells steelmaking coal, in addition to copper, zinc, blended bitumen, and other minerals and precious metals. Teck Resources Limited (NYSE:TECK) is a prominent fossil fuel stock to consider for the future. 

On September 21, investment advisory Deutsche Bank maintained a Buy rating on Teck Resources Limited (NYSE:TECK) but lowered the price target on the stock to $43 from $45. Analyst Abhi Agarwal issued the ratings update. On September 19, Raymond James analyst Brian MacArthur raised the price target on Teck Resources Limited (NYSE:TECK) to C$57 from C$56 and kept an Outperform rating on the shares.

According to the second quarter database of Insider Monkey, 46 hedge funds were bullish on Teck Resources Limited (NYSE:TECK), compared to 56 funds in the prior quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the biggest position holder in the company, with 13.6 million shares worth over $416 million.