10 Best Nickel Stocks to Invest in According to Analysts

7) Ryerson Holding Corporation (NYSE:RYI)

Average Upside Potential: 13.5%

Ryerson Holding Corporation (NYSE:RYI) processes and distributes industrial metals. It provides a line of products in carbon steel, stainless steel, alloy steels, aluminum, nickel, and red metals in numerous shapes and forms, such as coils, sheets, rounds, hexagons, and tubing.

In the fiscal third quarter of 2024, Ryerson Holding Corporation (NYSE:RYI) saw a net loss of $6.6 million, or diluted loss per share of $0.20, and adjusted EBITDA, excluding LIFO, of $21.0 million as counter-cyclical and seasonal bottoming continues. The decline in average selling prices and lower sales volumes impacted the company’s results. Wall Street analysts believe that Ryerson Holding Corporation (NYSE:RYI)’s focus on cost optimization should support its bottom line in the upcoming quarters.

Ryerson Holding Corporation (NYSE:RYI)’s $60 million cost reduction plan remains well underway, and it expects capital expenditures to decrease to $50 million in 2025. Also, strategic investments in the Shelbyville facility are expected to improve operational efficiency. The acquisition of Production Metals should expand aerospace and defense offerings. Furthermore, Ryerson Holding Corporation (NYSE:RYI) remains optimistic about future growth as the stainless market recovers.

The company has been pushing forward with strategic investments and cost-saving measures, which should yield future benefits. As Ryerson Holding Corporation (NYSE:RYI) concludes a 3-year investment cycle and has been optimizing operations, it remains confident in its ability to navigate the current industry landscape.