5 Best Lithium Stocks to Buy Now

4. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 24

Rio Tinto Group (NYSE:RIO) is a diversified metals miner that focuses its attention on a wide variety of materials. These include lithium, gold, copper, diamonds, titanium oxide, and others. The firm is headquartered in London, United Kingdom.

Rio Tinto Group (NYSE:RIO) is the third largest mining company in the world and the firm has beat analyst revenue estimates since 2017. Additionally, the firm has a forward price to earnings ratio of 6.1, which is below its normal P/E ratio of 10.3, indicating that there is a lot of juice in the stock. The company also generated a strong 48% of its EBITDA as free cash flows last year, for a very cash healthy performance. Finally, Rio Tinto Group (NYSE:RIO) also has an annual dividend of $16 for a 9% yield.

24 of the 895 hedge funds polled by Insider Monkey for their June quarter of 2022 holdings had held a stake in the company.

Rio Tinto Group (NYSE:RIO)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 14.8 million shares that are worth $905 million.