5 Best Cobalt Stocks to Buy in 2022

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1. Carpenter Technology Corporation (NYSE:CRS) secures the first position on our list of 10 best cobalt stocks to buy in 2022. The Philadelphia, Pennsylvania-based specialty metals company has become a leading firm in premium specialty alloys like nickel that has applications in the aerospace, defense, consumer end-use markets, and transportation industries.

Since the start of 2022, the stock price of Carpenter Technology Corporation (NYSE:CRS) has gained nearly 19% as compared to the broader market’s decline of 14.5% during the same period. This reflects that Carpenter Technology Corporation (NYSE:CRS) stock has momentum despite the broader market being hindered by rising inflation and anticipation of further interest rate hikes. Carpenter Technology Corporation (NYSE:CRS) beat the analysts’ Q1 2022 EPS estimate of $0.2 by $0.07. Moreover, the company also surpassed the revenue forecast by $73.3 million.

As of Q4 2021, Carpenter Technology Corporation (NYSE:CRS) was owned by 14 hedge funds, with a combined value of $47.32 million.

You can also take a peek at the 10 Best ETFs to Invest In for Retirement and 10 Biotech Penny Stocks with Growth Catalysts.

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