5 Best Copper Stocks to Buy Now

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

Number of Hedge Fund Holders: 68  

Freeport-McMoRan Inc. (NYSE: FCX) is an American mining company that explores and mines for copper, gold, silver, and other metals. The firm runs seven open-pit copper mines in North America, located in Morenci, Bagdad, Safford, Sierrita and Miami, Chino and Tyrone. It is placed second on our list of 10 best copper stocks to buy now. The stock has returned more than 233% to investors in the past twelve months.

On May 27, Freeport-McMoRan Inc. (NYSE: FCX) CEO Richard Adkerson told news publication Bloomberg that copper was a long-term and extraordinarily strong business that would benefit from substitution and increased recycling as large copper mines were rare to find. 

At the end of the first quarter of 2021, 68 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Freeport-McMoRan Inc. (NYSE: FCX), down from 71 in the preceding quarter worth $2.6 billion.