In this article, we discuss 5 best small-cap nickel stocks to buy now. If you want to read about some more small-cap nickel stocks to buy now, go directly to 10 Best Small-Cap Nickel Stocks to Buy Now.
5. Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)
Number of Hedge Fund Holders: 10
Market Capitalization as of August 19: $983 million
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) recycles ferrous and nonferrous metal. It also makes and sells steel products. The firm markets mixed metal joint products recovered from the shredding process. These include a variety of metals, including zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys. In late June, the firm beat market estimates on earnings per share and revenue for the second quarter of 2022 by $0.29 and $106 million, respectively.
In late May, Goldman Sachs analyst Emily Chieng maintained a Buy rating on Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) stock and lowered the price target to $47 from $63, noting that near-term headwinds would affect the stock in the coming months.
At the end of the first quarter of 2022, 10 hedge funds in the database of Insider Monkey held stakes worth $50 million in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), compared to 13 in the previous quarter worth $33 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN), with 314,542 shares worth more than $16 million.
4. TMC the metals company Inc. (NASDAQ:TMC)
Number of Hedge Fund Holders: 12
Market Capitalization as of August 19: $266 million
TMC the metals company Inc. (NASDAQ:TMC) is a deep-sea minerals exploration firm. It primarily focuses on the exploration and development of nickel, cobalt, copper, and manganese products. These products, especially those that are nickel-based, are used in a variety of industries, including electric vehicles, renewable energy storage markets, EV wiring, and clean energy transmission. The company is based in Canada and was founded in 2019. It was formerly known as Sustainable Opportunities Acquisition Corporation.
On August 15, TMC the metals company Inc. (NASDAQ:TMC) posted earnings for the second quarter of 2022, reporting losses per share of $0.05. The total cash on hand at the end of June was more than $46 million.
At the end of the first quarter of 2022, 12 hedge funds in the database of Insider Monkey held stakes worth $10 million in TMC the metals company Inc. (NASDAQ:TMC), compared to 15 in the preceding quarter worth $3.5 million. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in TMC the metals company Inc. (NASDAQ:TMC), with 1.7 million shares worth more than $4.6 million.
3. Trinseo PLC (NYSE:TSE)
Number of Hedge Fund Holders: 15
Market Capitalization as of August 19: $1.1 billion
Trinseo PLC (NYSE:TSE) makes and sells plastic and latex products. Nickel is sometimes used in a combination of other materials for nickel butadiene rubber, a product offered by Trinseo. In late June, the company announced that it would be partnering with GMP, a circular business innovation firm in the Netherlands, to develop new recycling techniques for polystyrene. The company recently posted a 12% year-on-year increase in revenue for the second quarter of 2022.
On August 11, Deutsche Bank analyst David Begleiter downgraded Trinseo PLC (NYSE:TSE) stock to Hold from Buy and lowered the price target to $34 from $42, noting that the firm had begun to see slowing demand for products.
At the end of the first quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $28 million in Trinseo PLC (NYSE:TSE), compared to 10 in the preceding quarter worth $6 million.
2. Materion Corporation (NYSE:MTRN)
Number of Hedge Fund Holders: 16
Market Capitalization as of August 19: $1.9 billion
Materion Corporation (NYSE:MTRN) produces advanced engineered materials. These materials use nickel and are supplied to the semiconductor, industrial, aerospace and defense, automotive, and consumer electronics industries. The company has an impressive dividend history stretching back close to a decade. In the past eight years, the payouts have registered consistent growth. On August 11, the firm declared a quarterly dividend of $0.125 per share, in line with previous. The forward yield was 0.53%.
On July 6, CL King analyst David Silver initiated coverage of Materion Corporation (NYSE:MTRN) stock with a Buy rating and a price target of $95, noting that the firm had developed a reputation as a reliable industrial supplier.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm ACK Asset Management is a leading shareholder in Materion Corporation (NYSE:MTRN), with 419,700 shares worth more than $35 million. Overall, at the end of the first quarter of 2022, 16 hedge funds in the database of Insider Monkey held stakes worth $119 million in Materion Corporation (NYSE:MTRN), compared to 18 in the previous quarter worth $118 million.
1. Ryerson Holding Corporation (NYSE:RYI)
Number of Hedge Fund Holders: 16
Market Capitalization as of August 19: $1.1 billion
Ryerson Holding Corporation (NYSE:RYI) processes and distributes industrial metals. On August 3, the company posted earnings for the second quarter of 2022, reporting earnings per share of $5.31, up from $1.24 per share over the same period last year. The revenue during the second quarter was $1.74 billion, up more than 22% compared to the revenue over the same period last year. The firm supplies nickel products to industries around the world and is based in Chicago.
On August 15, BMO Capital analyst Katja Jancic assumed coverage of Ryerson Holding Corporation (NYSE:RYI) stock with an Outperform rating and a price target of $35, backing the firm to deliver improved results through the cycle.
At the end of the first quarter of 2022, 16 hedge funds in the database of Insider Monkey held stakes worth $45 million in Ryerson Holding Corporation (NYSE:RYI), compared to 13 in the previous quarter worth $31 million. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm DE Shaw is a leading shareholder in Ryerson Holding Corporation (NYSE:RYI), with 357,851 shares worth more than $12 million.
You can also take a peek at 10 Russell 2000 Basic Materials Dividend Stocks to Buy and 10 Utilities Stocks with Over 3% Dividend Yield.
