5 Best Aluminum Stocks To Buy

In this article, we will take a look at the 5 best aluminum stocks to buy. To see more such companies, go directly to 11 Best Aluminum Stocks To Buy.

5. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 26

Ranking 5th on the list of the best aluminum stocks to buy now is Rio Tinto Group (NYSE:RIO). Rio Tinto Group (NYSE:RIO) is a mining giant which has a dedicated segment for aluminum called Rio Tinto Alcan, which is based on Canada. Rio Tinto Alcan was established in 2007 as a Rio Tinto Group (NYSE:RIO) subsidiary after the merger of Rio Tinto Group (NYSE:RIO)’s Canadian subsidiary and Canadian company Alcan.

Rio Tinto Alcan is a major miner of aluminum. Rio Tinto Group (NYSE:RIO) on its website says that the company produces some of the highest quality, lowest-carbon footprint aluminum in the world.

Rio Tinto Group (NYSE:RIO) is in the spotlight these days after China’s announcement to lift COVID restrictions. About 70% of Rio’s iron ore production goes to China. China’s reopening is expected to bode well for the company in the coming months.

A total of 26 hedge funds tracked by Insider Monkey reported having stakes in Rio Tinto Group (NYSE:RIO) as of the end of the third quarter. The total value of these stakes was $1.72 billion.