5 Stocks Under $30 to Buy According to David Einhorn’s Greenlight Capital

2. Teck Resources Limited (NYSE:TECK)

Greenlight Capital’s Stake Value: $112,789,000

Percentage of Greenlight Capital’s 13F Portfolio: 7.56%

Number of Hedge Fund Holders: 41

Share Price as of December 15: $26.90

Teck Resources Limited (NYSE:TECK) is a Canadian company specializing in mineral development and mining, offering zinc, lead, silver, coal, gold, and copper, among other minerals and natural resources. Greenlight Capital holds an $112.78 million stake in Teck Resources Limited (NYSE:TECK), which represents 7.56% of the hedge fund’s total Q3 investments. 

In the third quarter, 41 hedge funds were long Teck Resources Limited (NYSE:TECK), with total stakes equaling $1.31 billion. Jacob Mitchell’s Antipodes Partners is the biggest stakeholder of Teck Resources Limited (NYSE:TECK) from the third quarter, with 7.2 million shares worth $179.65 million. 

Stifel analyst Alex Terentiew on December 13 initiated coverage of Teck Resources Limited (NYSE:TECK) with a Buy rating and a C$50 price target. Stating that Teck Resources Limited (NYSE:TECK) is an underappreciated stock, the analyst kept a long-term bullish outlook for copper, observing that Teck Resources Limited (NYSE:TECK)’s copper-focused growth profile and the current “exceptional price strength in coking coal” has created an ideal scenario for Teck Resources Limited (NYSE:TECK). 

Announcing on October 27 its Q3 results, Teck Resources Limited (NYSE:TECK) posted earnings per share of $1.52, beating estimates by $0.34. Revenue for the quarter came in at $3.21 billion, up 84.60% year-over-year, outperforming estimated revenue by $268.89 million.