5 Best Nickel Stocks to Buy Now

3. Rio Tinto Group (NYSE: RIO)

Number of Hedge Fund Holders: 25

Rio Tinto Group (NYSE: RIO) is ranked third on our list of 10 best nickel stocks to buy now. The company’s shares have returned 50% to investors in the past twelve months. It is one of the largest mining firms in the world and has significant interests in the nickel industry. The company has partnered with another mining firm, Bluejay, to explore for nickel in Finland as nickel demand rises in tandem with the mainstreaming of electric vehicles around the globe. 

In August last year, Rio Tinto Group (NYSE: RIO) initiated legal proceedings against an Australian construction engineering firm over a fire at an iron ore processing facility that Rio claims hit abilities to process the ore, even during repairs. 

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.