5 Precious Metals Stocks to Buy Amid Market Volatility

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

Number of Hedge Fund Holders: 66   

Freeport-McMoRan Inc. (NYSE:FCX) is a mining firm with prime interests in copper. On December 13, Stifel analyst Alex Terentiew had initiated coverage of Freeport-McMoRan Inc. (NYSE:FCX) stock with a Buy rating and a price target of $48, highlighting the bullish outlook for copper futures amid rapid digitalization and increasing adoption of EVs across the world. The analyst noted that Freeport-McMoRan Inc. (NYSE:FCX) was “well-positioned” to generate higher free cash flows to ride this boom. 

Hedge funds concur with analysts in this bullish view of Freeport-McMoRan Inc. (NYSE:FCX). At the end of the third quarter of 2021, 66 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Freeport-McMoRan Inc. (NYSE:FCX), compared to 76 in the preceding quarter worth $3.8 billion. 

You can also take a peek at 10 Best Micro-Cap Stocks to Invest In and Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners.

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