5 Best Natural Resources Stocks to Buy

In this piece, we will take a look at the five best natural resource stocks to buy. If you want to take a look at what’s going on in the natural resource market right now, take a look at 12 Best Natural Resources Stocks to Buy.

5. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Investors In Q1 2023: 66

Teck Resources Limited (NYSE:TECK) is a global mining company that produces copper, zinc, and coal. The firm scored a big win in June 2023, when its Trail Operations Zinc processing site became the first standalone site of its kind to receive the Zinc Mark qualification for sustainable operations.

By the end of 2023’s first quarter, 66 out of the 943 hedge funds part of Insider Monkey’s database had invested in Teck Resources Limited (NYSE:TECK). Out of these, the firm’s largest shareholder is Eric W. Mandelblatt’s Soroban Capital Partners with a $404 million stake.

4. Linde plc (NYSE:LIN)

Number of Hedge Fund Investors In Q1 2023: 70

Linde plc (NYSE:LIN) is a unique natural resource company in the sense that it produces and sells atmospheric gases such as oxygen, nitrogen, argon, and others. The firm expanded its footprint in China in June when it signed contracts for new air separation units.

70 of the 943 hedge funds polled by Insider Monkey for this year’s first quarter had bought and owned the firm’s shares. Nicolai Tangen’s Ako Capital is Linde plc (NYSE:LIN)’s biggest hedge fund investor, owning $335 million worth of shares.

3. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Investors In Q1 2023: 72

ConocoPhillips (NYSE:COP) is an oil and gas company with operations all over the world. The firm’s shares have an average price target of $130, a significant upside over the current price of $104.

After digging through 943 hedge funds for their first quarter of 2023 investments, Insider Monkey discovered that 72 had held a stake in ConocoPhillips (NYSE:COP). Out of these, Boykin Curry’s Eagle Capital Management is the biggest investor owning 7.9 million shares that are worth $786 million.

2. Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Investors In Q1 2023: 77

Freeport-McMoRan Inc. (NYSE:FCX) is a diversified mining company, which primarily produces copper but also focuses on other metals. The firm declared a 15 cent dividend for its common stock in June 2023, and its shares are rated Buy on average.

As of March 2023, 77 of the 943 hedge funds part of Insider Monkey’s database had bought the mining company’s shares. Freeport-McMoRan Inc. (NYSE:FCX)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management with a $2.2 billion investment.

1. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Investors In Q1 2023: 81

Occidental Petroleum Corporation (NYSE:OXY) is an American oil and gas company with a global operations base. The firm’s shares have an average share price target of $69 for a close to $10 upside.

Insider Monkey’s Q1 2023 survey of 943 hedge funds revealed that 81 had bought and owned a stake in Occidental Petroleum Corporation (NYSE:OXY). Out of these, the firm’s biggest shareholder is Warren Buffett’s Berkshire Hathaway courtesy of its $13.2 billion investment.

Disclosure: None. You can also take a look at 12 Best Performing NASDAQ Stocks in 2022 and 10 Inverse Cramer Stocks To Buy According to Analysts.

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