5 Best Copper Stocks to Buy

2. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 66  

Teck Resources Limited (NYSE:TECK) is a natural resources firm that engages in the mining of copper, zinc, and other metals. The firm has mining interests in many countries, including Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States, among others. The firm is one of the biggest copper producers in the world with copper mines in Canada and South America. In late March, the firm announced the successful achievement of first copper production at the QB2 project in northern Chile. This milestone marks an important step in the development of the project, which is a joint venture with Sumitomo Metal Mining and has a significant copper resource base. The QB2 project is expected to have a long mine life and contribute to the copper production portfolio of the firm. 

On May 3, Deutsche Bank analyst Abhi Agarwal maintained a Buy rating on Teck Resources Limited (NYSE:TECK) stock and raised the price target to $47 from $46, noting that recovering demand in China and generally tight fundamentals should cushion the downside risks for metals and mining stocks. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Soroban Capital Partners is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 11 million shares worth more than $404 million.