10 Best Aluminum and Aluminum Mining Stocks to Buy Now

1. Crown Holdings, Inc. (NYSE:CCK)           

Number of Hedge Fund Holders: 48

Crown Holdings, Inc. (NYSE:CCK) is a leading global supplier of packaging products, with a strong presence in over 40 countries. The company specializes in manufacturing and selling aluminum beverage cans, aluminum caps, non-beverage cans, aerosol cans, glass bottles, and steel crowns.

In Q2 2024, Crown Holdings, Inc. (NYSE:CCK) reported a 2.2% YoY dip in net sales to $3 billion. Net sales for the first six months also declined to $5.82 billion from $6.08 billion in the same period last year. Operating income followed a similar downward trend.

The decrease in net sales and operating income was driven by lower raw material costs and unfavorable foreign currency impacts, which offset gains from global beverage can shipments. Notably, global beverage can volumes grew by 6%, with North America experiencing a substantial 9% increase, driving a 5.6% rise in segment income for Q2.

Crown Holdings, Inc. (NYSE:CCK) generated $178 million in free cash flow for the first half of 2024, and net leverage improved from 4.0 to 3.2 times, reflecting stronger financial health and operational efficiency. Looking ahead, Crown Holdings has updated its full-year earnings guidance, projecting adjusted EPS between $6 and $6.25, up from the previous $5.80 to $6.20 range.

Over the past month, the stock has surged by 3.34%, while YTD declined by 0.93%, largely due to unexpected negative impacts and lower material costs.

On August 29, Crown Holdings, Inc. (NYSE:CCK) obtained Aluminum Stewardship Initiative (ASI) certification, demonstrating its commitment to responsible production and management of aluminum.

Considering the overall performance of the company, analysts find the stock to be a compelling investment opportunity. They are optimistic about the stock, projecting an upside potential of 10.70% from the current price of $90.41. As of Q2 2024, 48 hedge funds are bullish on the stock, as per Insider Monkey’s database.

CCK is the Best Aluminum and Aluminum Mining Stocks to Buy Now based on hedge fund sentiment. But our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CCK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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