5 Best Gold Stocks To Buy Right Now

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1. Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 76   

Inflation fears have helped push the prices of mining stocks like Freeport-McMoRan Inc. (NYSE:FCX) higher in the past few months. The company, which operates from Arizona, has significant interests in the gold business. It recently posted earnings for the third quarter, beating market estimates on earnings per share by $0.09. The revenue over the period was $6 billion, up 57% year-on-year. 

Bank of America analyst Lawson Winder recently reinstated coverage of Freeport-McMoRan Inc. (NYSE:FCX) stock with a Buy rating and a price target of $30, noting the firm was a “large, liquid, and well-run” offering in the mining sector. 

At the end of the second quarter of 2021, 76 hedge funds in the database of Insider Monkey held stakes worth $3.8 billion in Freeport-McMoRan Inc. (NYSE: FCX), up from 68 in the preceding quarter worth $3.2 billion. 

You can also take a peek at 10 Penny Stocks Redditors are Buying in August and 10 Best Nickel Stocks to Buy Now.

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