Billionaire Stanley Druckenmiller’s 2022 Portfolio: 5 Value Stock Picks

2. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 40

P/E Ratio as of May 18: 6.60

Teck Resources Limited (NYSE:TECK) is a Vancouver-based natural resources company, serving customers in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. Duquesne Capital added Teck Resources Limited (NYSE:TECK) to its Q1 portfolio by purchasing 2.4 million shares of the company, worth $97.7 million. With a price to earnings ratio of 6.60, Teck Resources Limited (NYSE:TECK) is one of the top value picks of billionaire Stanley Druckenmiller in 2022. 

On April 27, Teck Resources Limited (NYSE:TECK) posted Q1 results, announcing earnings per share of $2.31, beating market estimates by $0.06. Revenue for the quarter grew about 90% year-over-year to $3.93 billion, surpassing analysts’ predictions by $16.10 million. The company also declared a C$0.125 per share quarterly dividend, payable on June 30, to shareholders of record on June 15. 

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

William B. Gray’s Orbis Investment Management is a notable shareholder of Teck Resources Limited (NYSE:TECK) as of Q1 2022, with 7.4 million shares worth $299.4 million. Overall, in the fourth quarter of 2021, 40 hedge funds reported owning stakes in the company, collectively worth $1.6 billion.