5 Best Commodity Stocks To Invest In

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

Number of Hedge Fund Holders: 56    

Freeport-McMoRan Inc. (NYSE:FCX) engages in the mining of mineral properties in North America, South America, and Indonesia. The company is slowly building a dividend profile. On September 21, Freeport-McMoRan Inc. (NYSE:FCX) declared a quarterly dividend of $0.15 per share, in line with previous. The forward yield was 2.02%. The dividend is payable to shareholders by mid-October. The firm is based in Arizona and was founded in 1987. 

On July 22, RBC Capital analyst Sam Crittenden maintained a Sector Perform rating on Freeport-McMoRan Inc. (NYSE:FCX) stock and lowered the price target to $35 from $46, noting that the firm had reported another strong quarter. 

At the end of the second quarter of 2022, 56 hedge funds in the database of Insider Monkey held stakes worth $2.4 billion in Freeport-McMoRan Inc. (NYSE:FCX), compared to 68 the preceding quarter worth $4.1 billion.

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Freeport-McMoRan Inc. (NYSE:FCX) was one of them. Here is what the fund said:

“Supply chains eased for some goods, but remained challenged for many commodities including energy, agriculture, and fertilizer due to war and general scarcity, and also in many consumer products as semiconductors remained in short supply. Copper and gold producer Freeport- McMoRan (NYSE:FCX) rose as copper prices remained strong due to supply shortages and growing use in renewable energy systems and electric vehicles.”

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.

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