5 Best Metals Stocks To Invest In

In this piece, we will take a look at the five best metals stocks to invest in. If you want to take a look at how the industry as a whole is doing this year, check out 12 Best Metals Stocks To Invest In.

5. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Investors In Q2 2023: 41

Albemarle Corporation (NYSE:ALB) is another major lithium supplier and one that is known for its relationship with Tesla. The firm seems to be doing quite well as of late, since not only has it beaten analyst EPS estimates in all four of its latest quarters, but it was also added to Fortune Magazine’s list of the fastest growing American companies in October 2023.

During Q2 2023, 41 out of the 910 hedge funds polled by Insider Monkey were Albemarle Corporation (NYSE:ALB)’s investors.  Philippe Laffont’s Coatue Management owns the biggest stake among these, which is worth $154 million.

4. Agnico Eagle Mines Limited (NYSE:AEM)

Number of Hedge Fund Investors In Q2 2023: 42

Agnico Eagle Mines Limited (NYSE:AEM) is a gold mining company headquartered in Toronto, Canada. Its shares are rated Strong Buy on average, and analysts have set an average share price target of $66.79.

During this year’s June quarter, 42 among the 910 hedge funds tracked by Insider Monkey had invested in the gold company. Agnico Eagle Mines Limited (NYSE:AEM)’s largest hedge fund shareholder is Jean-Marie Eveillard’s First Eagle Investment Management through its $313 million investment.

3. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Investors In Q2 2023: 49

Newmont Corporation (NYSE:NEM) is the final gold mining company on our list. The firm reported its third quarter earnings in October 2023, which saw it miss analyst EPS estimates of $0.43 by posting $0.36 in the segment as it shared that protests in a Mexican mine had hampered output.

For their second quarter of 2023 shareholdings, 49 out of the 910 hedge funds profiled by Insider Monkey had bought Newmont Corporation (NYSE:NEM)’s shares. Out of these, the biggest investor is Jean-Marie Eveillard’s First Eagle Investment Management as it owns 18.4 million shares that are worth $787 million.

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

Number of Hedge Fund Investors In Q2 2023: 66

Freeport-McMoRan Inc. (NYSE:FCX) is a diversified mining company that focuses on copper, gold, and other natural resources. While its third quarter earnings report saw it beat analyst EPS estimates, lowering copper prices coupled with higher production costs led to the firm warning about a gloomy future. As a result, the shares slipped in the market.

As of June 2023 end, 66 out of the 910 hedge funds surveyed by Insider Monkey were the firm’s investors. Freeport-McMoRan Inc. (NYSE:FCX)’s largest stakeholder in our database is Ken Fisher’s Fisher Asset Management as it owns $2.1 billion worth of shares.

1. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Investors In Q2 2023: 79

Teck Resources Limited (NYSE:TECK) is a Canadian firm that produces copper, silver, lead, zinc, and other metals. Its shares are rated Strong Buy on average and analysts have set a $15.42 share price upside through an average share price target of $51.55.

79 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 research had held a stake in Teck Resources Limited (NYSE:TECK) during the time period.  is the biggest investor among these Eric W. Mandelblatt’s Soroban Capital Partners through a $423 million investment.

Disclosure: None. You can also take a look at Billionaire Ray Dalio’s 15 Best Stock Picks and Top 15 Tech Trends In 2023.

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