5 Best Inexpensive Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 76
Share Price as of November 12: $41.23

Recently, Argus raised its price target on Freeport-McMoRan Inc. (NYSE:FCX) to $45, with a Buy rating on the shares. The firm’s analyst highlighted the company’s Q3 earnings beat and expects it to benefit from the rising metal prices.

In Q3, Freeport-McMoRan Inc. (NYSE:FCX), a mining company, posted an EPS of $0.89, beating the estimates by $0.09. The company sold over 1.03 billion pounds of copper, up from 848 million pounds during the same period last year.

At the end of Q2, 76 hedge funds tracked by Insider Monkey had stakes in Freeport-McMoRan Inc. (NYSE:FCX), valued at $3.8 billion. The number of hedge funds having positions in the company stood at 68 in the previous quarter, presenting a positive hedge fund sentiment.