5 Precious Metals Stocks to Buy According to Ken Fisher

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

Number of Hedge Fund Holders: 66

Freeport-McMoRan Inc. (NYSE:FCX) is an Arizona-based company that mines mineral properties in North America, South America, and Indonesia, exploring primarily for copper, gold, molybdenum, silver, and other metals. The stock gained 17.37% over the last month, as demand for precious metals rose amid the Ukraine crisis. 

On March 17, Stifel analyst Alex Terentiew raised the price target on Freeport-McMoRan Inc. (NYSE:FCX) to $54 from $49 and kept a Buy rating on the shares.

Ken Fisher increased his stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4% in the fourth quarter of 2021, holding almost 49 million shares worth more than $2 billion. The stock accounts for 1.14% of the fund’s total 13F securities. 

At the end of the fourth quarter of 2021, 66 hedge funds reported owning stakes in Freeport-McMoRan Inc. (NYSE:FCX), collectively worth $3.7 billion. Ric Dillon’s Diamond Hill Capital is a prominent shareholder of the company, with 13.8 million shares worth close to $577 million. 

You can also take a look at 10 Dividend Stocks With Over 5% Yield and 10 Semiconductor Stocks to Buy Under $50. 

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