5 Copper Stocks to Buy Now as Recession Fears Recede

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In this article, we discuss 5 copper stocks to buy now as recession fears recede. If you want to see more stocks in this selection, click 10 Copper Stocks to Buy Now as Recession Fears Recede

5. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 56

Teck Resources Limited (NYSE:TECK) is headquartered in Vancouver, Canada, and mines natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. In FY 2022, while maintaining guidance for the production of copper at 273,000 to 290,000 tons. On July 27, Teck Resources Limited (NYSE:TECK) declared a C$0.125 per share quarterly dividend, in line with previous. The dividend is distributable on September 29, to shareholders of record on September 15. Teck Resources Limited (NYSE:TECK) proposed share repurchases of up to $500 million, of which $436 million has been purchased to date.

On July 28, National Bank analyst Shane Nagle maintained an Outperform rating on Teck Resources Limited (NYSE:TECK) and lowered the price target on the stock to C$52.50 from C$55. Analysts at RBC Capital, Raymond James, Scotiabank, TD Securities, and Deutsche Bank also kept Outperform ratings on the stock. 

According to Insider Monkey’s data, 56 hedge funds were long Teck Resources Limited (NYSE:TECK) at the end of Q1 2022, up from 40 funds in the earlier quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the largest shareholder of the company, with 12.25 million shares worth $495.16 million. 

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