5 Best Value Stocks to Buy According to Robert Bishop’s Impala Asset Management

4. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 56

P/E Ratio as of May 25: 6.88

With a price to earnings ratio of 6.88, Teck Resources Limited (NYSE:TECK) is one of the best value stocks to buy according to Robert Bishop’s Impala Asset Management. Teck Resources Limited (NYSE:TECK) is a Canadian company that produces natural resources in Asia, Europe, and North America, operating through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. 

Securities filings for Q1 2022 reveal that Robert Bishop’s hedge fund added Teck Resources Limited (NYSE:TECK) to its portfolio by purchasing 800,000 shares worth $32.3 million. The stock represents 2.78% of the total 13F holdings. 

On April 27, Teck Resources Limited (NYSE:TECK) reported financial results for Q1 2022. The company posted earnings per share of $2.31, beating market estimates by $0.06. The revenue grew about 90% year-over-year to $3.93 billion, outperforming Street forecasts by $16.10 million. 

CIBC analyst Bryce Adams on May 2 raised the price target on Teck Resources Limited (NYSE:TECK) to C$52 from C$50 and kept a Neutral rating on the shares.

According to Insider Monkey’s first quarter database, 56 hedge funds were bullish on Teck Resources Limited (NYSE:TECK), up from 40 funds in the last quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the largest shareholder of the company, with 12.25 million shares worth $495.16 million.