Teck Resources Ltd (USA) (TCK): Hedge Funds Are Snapping Up

Now, key hedge funds were leading the bulls’ herd. Tide Point Capital, managed by Christopher A. Winham, initiated the largest position in Teck Resources Ltd (USA) (NYSE:TCK). The fund had $30.7 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $16.3 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, and Alexander Mitchell’s Scopus Asset Management.

Let’s go over hedge fund activity in other stocks similar to Teck Resources Ltd (USA) (NYSE:TCK). These stocks are Torchmark Corporation (NYSE:TMK), National Retail Properties, Inc. (NYSE:NNN), Msci Inc (NYSE:MSCI), and Ralph Lauren Corp (NYSE:RL). This group of stocks’ market values are closest to TCK’s market value.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $410 million. That figure was $834 million in TCK’s case. Ralph Lauren Corp (NYSE:RL) is the most popular stock in this table. On the other hand Torchmark Corporation (NYSE:TMK) is the least popular one with only 19 bullish hedge fund positions. Compared to these stocks Teck Resources Ltd (USA) (NYSE:TCK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.