5 Stocks That Have Grabbed Stanley Druckenmiller’s Attention in 2022

1. Teck Resources Ltd (USA) (NYSE:TECK)

Value of Duquesne Capital’s 13F Position: $97.8 million

Number of Hedge Fund Shareholders (as of March 31): 57

Druckenmiller saved his biggest new investment for Teck Resources Ltd (USA) (NYSE:TECK), building a stake that was valued at more than twice that of the next largest new investment. Teck Resources was one of the most popular buys among hedge fund managers in Q1, as ownership of the stock jumped by 39%.

Teck Resources Ltd (USA) (NYSE:TECK) is in a great position to capitalize on what is expected to be robust demand for copper in the coming decades. Copper demand is expected to rise by anywhere from 18%-28% over the next decade, and by as much as 100% by 2050. Meanwhile, copper production is actually expected to decline over the next decade, even when factoring in probable new projects. That could quickly change however, as a supply glut in 2021 appears to have corrected into what analysts are projecting to be a slight oversupply this year and a further oversupply next year.

Nonetheless, there’s tremendous potential for a company like Teck Resources Ltd (USA) (NYSE:TECK), which has developed a robust pipeline of copper projects thanks to its two decades of investment in exploration and M&A activity, to meet the growing demand for copper in the years and decades to come.

For more on the latest trades made by hedge fund titan Stanley Druckenmiller, check out Stanley Druckenmiller Was Right About These 9 Stocks and Billionaire Stanley Druckenmiller’s 2022 Portfolio: 10 Value Stock Picks.

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