12 Best Nickel Stocks to Buy According to Hedge Funds

8. ArcelorMittal S.A. (NYSE:MT)

Number of Hedge Fund Holders: 18

Market cap as of April 25: $22.67 billion

ArcelorMittal S.A. (NYSE:MT) is an integrated steel and mining business with operations in the United States, Europe, and across the world. The company uses zinc, tin, and aluminum as base metals for coating, nickel for making stainless or special steels, and aluminum for deoxidizing liquid steel. The company’s operating segments are North America, Brazil, Europe, India, JVs, Sustainable Solutions, Mining, and Other. The Europe segment yields the highest revenue. Geographically, the United States accounts for the majority of the company’s revenue. The stock surged by more than 29% YTD, making it one of the Best Nickel Stocks. 

In 2024, ArcelorMittal S.A. (NYSE:MT) showed strong financial performance, generating $7.1 billion in EBITDA, or $130 per ton shipped, which was over twice as much as the previous cycle lows. The firm’s $2 billion in investable cash flow for the year and $21 billion since 2021 allowed for strategic reinvestments and steady returns for shareholders. Structural EBITDA is predicted to benefit from $1.9 billion in high-return strategic initiatives, of which $400 million is anticipated in 2025 and $600 million in 2026.

Over the last four years, ArcelorMittal S.A. (NYSE:MT) has aggressively repurchased shares, reducing its share count by 37% and increasing its dividend by 10% to $0.55 per share. The company has also made great strides in decarbonization, with substantial investments in low-carbon steel solutions supporting current absolute carbon emissions at almost half of 2018 levels.