Billionaire Louis Bacon’s 5 Stock Picks with Huge Upside Potential

4. Teck Resources Limited (NYSE:TECK)

Louis Bacon’s Stake Value: $71.455 million

Average analyst price target: $47.85

Average analyst price target upside: 27.87%

Teck Resources Limited (NYSE:TECK) is a Canadian mining company with diversified operations in mining and mineral development.

On November 20, Teck Resources Limited (NYSE:TECK) announced that it has received regulatory approval from the Toronto Stock Exchange to purchase up to 40 million class B Shares between November 22, 2023, and November 21, 2024.

On November 16, Teck Resources Limited (NYSE:TECK) announced a quarterly dividend of CAD 0.125, payable by December 29 to the shareholders of record on December 15. The dividend yield of the company was 0.98% as of the December 4 market close.

On November 14, Glencore plc (OTC:GLNCY) confirmed that it would purchase a 77% stake in Teck Resources Limited (NYSE:TECK)’s coal business for $6.9 billion in cash. CEO of Teck Resources Limited (NYSE:TECK), Jonathan Price, commented that the company will receive $8.6 billion in cash after the sale, which would go a long way in paying down debt, expanding its base metals production, and returning cash to the shareholders.

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