5 Best Copper Stocks to Buy Now

3. Rio Tinto Group (NYSE: RIO)

Number of Hedge Fund Holders: 25

Rio Tinto Group (NYSE: RIO) is the second largest metals and mining corporation in the world with interests in copper, aluminum, gold, silver, and other metals. It is ranked third on our list of 10 best copper stocks to buy now. The stock has returned more than 46% to investors in the past year. In 2020, the firm produced almost 527,900 metric tons of copper. The company also has significant mining operations related to uranium and iron.

On June 15, Rio Tinto Group (NYSE: RIO) announced that it would be partnering with an Australian firm to explore the usage of hydrogen instead of natural gas in metal refineries. The move is part of a plan by the company to reduce overall fossil fuel emissions. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Rio Tinto Group (NYSE: RIO) with 12.5 million shares worth more than $971 million.