5 Most Undervalued Foreign Stocks To Buy According To Hedge Funds

2. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 47

P/E Ratio as of January 23: 6.74

Teck Resources Limited (NYSE:TECK) was founded in 1913 and is headquartered in Vancouver, Canada. The company engages in exploring, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. On December 19, Teck Resources Limited (NYSE:TECK) sold the Quintette steelmaking coal mine in north-eastern British Columbia to a unit of Conuma Resources for $120 million in cash. The transaction is expected to close in Q1 2023. Conuma has agreed to make payments to Teck Resources Limited (NYSE:TECK) over a period of 36 months, and will also pay a 25% royalty based on net profits to Teck, starting after Conuma has recouped its investment in the Quintette project. 

According to Insider Monkey’s data, 47 hedge funds were bullish on Teck Resources Limited (NYSE:TECK) at the end of September 2022, compared to 46 funds in the last quarter. John Armitage’s Egerton Capital Limited is a prominent stakeholder of the company, with nearly 12 million shares worth $364.40 million. Teck Resources Limited (NYSE:TECK) is one of the most undervalued foreign stocks according to elite investors. 

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