5 Best Mining Stocks To Buy Now

In this article, we will discuss the 5 best mining stocks to buy now. If you want to explore similar stocks, you can also take a look at 11 Best Mining Stocks To Buy Now.

5. Alcoa Corporation (NYSE:AA)

Number of Hedge Fund Holders: 39

Alcoa Corporation (NYSE:AA) is a leading miner and producer of bauxite, alumina, and aluminum. The company distributes its products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and international markets. On September 27, B. Riley analyst Lucas Pipes revised his price target on Alcoa Corporation (NYSE:AA) to $51 from $54 and reiterated a Neutral rating on the shares.

Alcoa Corporation (NYSE:AA) has abundant free cash flows and strong margins. The company has free cash flows of $1.15 billion and a trailing twelve-month operating margin of 21.69%. The stock is trading cheaply relative to earnings and is also paying a dividend. As of October 10, Alcoa Corporation (NYSE:AA) has a trailing twelve-month PE ratio of 7.73 and is offering a forward dividend yield of 1.03%. The stock is one of the best mining stocks to buy now.

At the end of Q2 2022, 39 hedge funds were eager on Alcoa Corporation (NYSE:AA) and held stakes worth $1.24 billion in the company. As of June 30, Soroban Capital Partners is the top shareholder in Alcoa Corporation (NYSE:AA) and has stakes worth $234.5 million in the company.