In this article, we discuss the 5 best nickel stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Nickel Stocks to Buy Now.
5. Allegheny Technologies Incorporated (NYSE: ATI)
Number of Hedge Fund Holders: 20
Allegheny Technologies Incorporated (NYSE: ATI) is a company that markets specialty metals and related products. The firm makes and sells cobalt and nickel-based alloys, among a host of other materials and components related to metals. The company supplies these products to more than 30 countries around the world. It is ranked fifth on our list of 10 best nickel stocks to buy now. The company’s shares have offered investors returns exceeding 135% over the past twelve months..
On April 29, Allegheny Technologies Incorporated (NYSE: ATI) posted earnings results for the first quarter of 2021, reporting a revenue of close to $700 million, down 27% year-on-year but beating market expectations by almost $44 million.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm DE Shaw is a leading shareholder in Allegheny Technologies Incorporated (NYSE: ATI) with 3.8 million shares worth more than $80 million.
4. Schnitzer Steel Industries, Inc. (NASDAQ: SCHN)
Number of Hedge Fund Holders: 12
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) is a company that recycles various types of metals and markets finished metal products as well. It is placed fourth on our list of 10 best nickel stocks to buy now. The stock has returned 189% to investors in the past year. The company has gained importance in recent years as electric vehicles, which use nickel in EV batteries, gain traction. The firm is developing methods for the safe storage, collection, and sale of nickel for the EV industry through its recycling program.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) stock is a good option for income investors who want steady payments on the side. On April 7, the firm declared a quarterly dividend of $0.1875 per share, in line with previous. The forward yield was 1.81%.
At the end of the first quarter of 2021, 12 hedge funds in the database of Insider Monkey held stakes worth $15.3 million in Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), up from 9 in the preceding quarter worth $19.9 million.
3. Rio Tinto Group (NYSE: RIO)
Number of Hedge Fund Holders: 25
Rio Tinto Group (NYSE: RIO) is ranked third on our list of 10 best nickel stocks to buy now. The company’s shares have returned 50% to investors in the past twelve months. It is one of the largest mining firms in the world and has significant interests in the nickel industry. The company has partnered with another mining firm, Bluejay, to explore for nickel in Finland as nickel demand rises in tandem with the mainstreaming of electric vehicles around the globe.
In August last year, Rio Tinto Group (NYSE: RIO) initiated legal proceedings against an Australian construction engineering firm over a fire at an iron ore processing facility that Rio claims hit abilities to process the ore, even during repairs.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Rio Tinto Group (NYSE: RIO) with 12.5 million shares worth more than $971 million.
2. BHP Group (NYSE: BHP)
Number of Hedge Fund Holders: 18
BHP Group (NYSE: BHP) is a natural resources company that engages in the mining and production of metals such as gold, silver, copper, zinc, and nickel. The company also smelts and refines nickel. The firm uses nickel sulphide and laterite ore to make nickel. It is placed second on our list of 10 best nickel stocks to buy now. The stock has returned 48% to investors in the past twelve months. The mining firm has a market cap of more than $161 billion and posted close to $43 billion in revenue last year.
On June 16, news agency Reuters reported that mining firm Samarco had announced that it was expecting a debtor-in-possession loan worth $238 million from BHP Group (NYSE: BHP) and another big mining firm to maintain operations. BHP is a controlling shareholder in Samarco.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.
1. Vale S.A. (NYSE: VALE)
Number of Hedge Fund Holders: 31
Vale S.A. (NYSE: VALE) is the largest nickel producer in the world. It is ranked first on our list of 10 best nickel stocks to buy now. The company’s shares have returned 120% to investors in the past twelve months. The company has projected that nickel will be a mainstay in the EV battery industry over the coming years and as the largest nickel producer in the world, it is uniquely placed to take advantage of the upcoming boom.
Vale S.A. (NYSE: VALE) is one of the mining stocks that investors should watch as China releases metal from national reserves in the open market in a move aimed at controlling surging commodity prices, potentially impacting the high prices of basic materials in the process.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Vale S.A. (NYSE: VALE) with 38 million shares worth more than $661 million.
You can also take a peek at Billionaire Stan Druckenmiller’s Top 10 Stock Picks and Billionaire Julian Robertson On Interest Rates and His Top Stock Picks For 2021.
