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

Number of Hedge Fund Holders: 66   

Freeport-McMoRan Inc. (NYSE:FCX) is a mining firm with interests in copper and lithium, along with other metals. Copper and lithium are essential materials for EV manufacture and thus Freeport-McMoRan Inc. (NYSE:FCX) is a long-term EV stock. Freeport-McMoRan Inc. (NYSE:FCX) has also set aside billions of dollars for ambitious growth projects in the coming years to keep ahead of competition in the mining industry on copper. The fundamentals are constantly improving too and the firm has decreased debt by $19 billion since 2015. 

Freeport-McMoRan Inc. (NYSE:FCX) remains a preferred hedge fund stock to play the mining market. 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).