10 Best Metal Stocks to Buy According to Billionaires

7. Nucor Corporation (NYSE:NUE)

Number of Billionaires: 12

Nucor Corporation (NYSE:NUE) is North America’s largest and most diversified steel and steel products company, as well as the region’s largest recycler. Nucor products serve various industries, such as automotive, construction, infrastructure, and renewable energy.

Nucor Corporation (NYSE:NUE) reported net earnings of $1.22 per diluted share in Q4 2024. However, the company has guided Q1 2025, anticipating adjusted earnings between $0.50 and $0.60 per diluted share. This projection reflects challenges such as lower average selling prices in the steel products segment.

Despite these near-term challenges, analysts remain optimistic about Nucor’s prospects. UBS has upgraded Nucor Corporation (NYSE:NUE) to a “Buy” rating, citing the positive impact of the 25% tariffs on steel and aluminum imports implemented by President Trump’s administration. These tariffs have led to increased steel prices, which are expected to bolster Nucor’s earnings. U.S. steel prices have climbed sharply this year, with benchmark hot-rolled coil (HRC) prices rising over 25%. As steel prices continue to strengthen, companies like Nucor Corporation (NYSE:NUE) are well-positioned to benefit.

As of March 28, 2025, Nucor’s stock is trading at $123.01, reflecting a slight decrease from the previous close. The average price target from 16 ratings stands at $154.70, suggesting a 28.05% upside.