Billionaire Bruce Kovner’s 10 Stock Picks with Huge Upside Potential

6. Teck Resources Ltd. (NYSE:TECK)

Caxton Associates’ Stake: $40.19 million

Number of Hedge Fund Holders: 66

Average Upside Potential as of May 7: 39.07%

Teck Resources Ltd. (NYSE:TECK) researches, explores, develops, processes, smelts, refines, and reclaims mineral properties in Asia, the Americas, and Europe. The company operates through the Copper and Zinc segments. It offers copper, zinc, and lead concentrates, as well as refined zinc, lead, and silver. In addition, it explores for gold.

In Q1 2025, the company’s Copper segment achieved a 90% increase year-over-year in gross profit before depreciation and amortization, and reached $704 million. This was driven by higher copper prices and increased copper sales volumes, along with increased byproduct revenues from molybdenum and zinc. Copper production increased by 7% to 106,000 tons due to improved grades and mill throughput at Highland Valley and Carmen de Andacollo.

Teck Resources Ltd. (NYSE:TECK) now anticipates growth in its copper production with improving margins throughout 2025. The company projects full-year copper production to be between 490,000 to 565,000 tons, which would be up from 446,000 tons in 2024. This will be driven by the ongoing ramp-up of QB and improved performance at Highland Valley. On April 28, Benchmark maintained its Buy rating on the stock with a $55 price target.