David Einhorn Having a Banner Year in 2022: 5 Favorite Stock Picks

3. Teck Resources Ltd (NYSE:TECK)

Greenlight Capital’s Stake Value: $120.19 million

Percentage of Greenlight Capital’s 13F Portfolio: 7.63%

Number of Hedge Fund Holders: 56

Teck Resources Ltd (NYSE:TECK) is a Canadian firm which acquires and develops natural resources around the world. Its products include copper, gold, coal, lead, zinc and silver, along with chemicals and fertilizers as well.

RBC Capital analyst Sam Crittenden on April 28 kept an ‘Outperform’ rating on Teck Resources Ltd (NYSE:TECK) shares, and increased the price target to C$61 from C$52. The company shares have surged 84.08% in the last 12 months, and 41.02% in the year to date as of May 24.

For Q1 2022, Teck Resources Ltd (NYSE:TECK) disclosed earnings per share of $2.31, exceeding estimates by $0.06. $3.93 billion in quarterly revenue was also above consensus figures by $16.1 million.

Many investors apart from David Einhorn were also bullish on Teck Resources Ltd (NYSE:TECK). At the close of the first quarter, 56 hedge funds reported bullish bets on the company shares, as opposed to 40 in the previous quarter. Its largest Q1 shareholder was Soroban Capital Partners with a $495.2 million stake.