5 Best Metal Stocks to Invest In

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

Number of Hedge Fund Holders: 68

Freeport-McMoRan Inc. (NYSE:FCX) is a mining company operating in North America, South America, and Indonesia. It explores for metals like copper, gold, silver, and molybdenum, among other minerals.

Abhi Agarwal at Deutsche Bank has a Hold rating on shares of Freeport-McMoRan Inc. (NYSE:FCX) as of October 5. The analyst also placed a $30 price target on the stock.

This September, Freeport-McMoRan Inc. (NYSE:FCX) declared a quarterly dividend of $0.15 per share. The company saw its highest rise in share price this September since November 2021, rising by 7.9% in light of copper prices jumping in the market.

There were 68 hedge funds long Freeport-McMoRan Inc. (NYSE:FCX) in the second quarter. Their total stake value was $4.1 billion.

Carillon Tower Advisers, an investment management company, mentioned Freeport-McMoRan Inc. (NYSE:FCX) in its second quarter 2022 investor letter. Here’s what the firm said:

“Mining company Freeport-McMoRan Inc. (NYSE:FCX) fell with the price of copper as emerging market credit and rate hike jitters weighed on metal prices. Copper is projected to be in very short supply into the end of the decade due to a scarcity of new mines being developed and the increasing use of renewable energy, but economic recession fears, a slowdown in construction in China, and a slowing housing market in the United States dented the stock price.”

See also 12 Best Gaming Stocks To Invest In and 13 Best Industrial Stocks To Invest In.

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