5 Best Rare Earth Stocks and ETFs

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

Number of Hedge Fund Holders: 66

Freeport-McMoRan Inc. (NYSE:FCX) shares jumped earlier this month after copper prices increased following China’s initiative to slash copper reserve requirements in an attempt to boost its economy’s recovery.

Diamond Hill Large Cap Strategy made the following comment about Freeport-McMoRan Inc. (NYSE:FCX) in its Q4 2022 investor letter:

“Other top contributors during the quarter were copper producer Freeport-McMoRan Inc. (NYSE:FCX) and health care facilities operator HCA Healthcare. With little fundamental news to report, Freeport-McMoRan’s share price advance in Q4 reflected a rebound in copper prices, driven by the recognition that copper inventories are low relative to historical norms. We believe the company continues to have meaningful price and volume leverage in a copper constrained world.”