5 Best Mineral Stocks To Buy Now

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

Number of Hedge Fund Holders: 56

Freeport-McMoRan Inc. (NYSE:FCX) is an Arizona-based company engaged in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals. It is one of the best mineral stocks to consider. The company distributed a $0.15 per share quarterly dividend to shareholders on November 1. 

On October 5, Deutsche Bank analyst Abhi Agarwal maintained a Hold rating on Freeport-McMoRan Inc. (NYSE:FCX) but lowered the price target on the shares to $30 from $35. When the global cycle recovers, the market will experience tight inventories and prices could once again shoot up to attractive levels, the analyst told investors in a research note.

According to Insider Monkey’s data, 56 hedge funds were bullish on Freeport-McMoRan Inc. (NYSE:FCX) at the end of June 2022, compared to 68 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 52 million shares worth $1.5 billion. 

Here is what Carillon Tower Advisers specifically said about Freeport-McMoRan Inc. (NYSE:FCX) in its Q2 2022 investor letter:

“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.”

You can also take a look at 11 Best Healthcare Dividend Stocks To Buy and 10 Best Utility Dividend Stocks To Buy. 

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