5 Best Zinc Stocks to Buy in 2023

In this article, we will take a look at the 5 best zinc stocks to buy in 2023. If you want to read our discussion on the zinc industry, go to the 11 Best Zinc Stocks to Buy in 2023.

5. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 29

Value of Hedge Fund Holdings: $217,519,580

Rio Tinto Group (NYSE:RIO) is amongst the largest companies operating in the global metals and mining sector.

The company has made substantial efforts to incorporate sustainable practices into its operations. Rio Tinto Group (NYSE:RIO) has a planned investment of $537 million over the next eight years to achieve decarbonization of its Rio Tinto Iron and Titanium (RTIT) Quebec Operations in collaboration with the Government of Canada.

Here’s what Harding Loevner said about Rio Tinto Group (NYSE:RIO) in its Q1 2023 investor letter:

“In terms of geographical performance, the eurozone emerged as the top-performing region, and our stocks did better still, fueled by the strong performance of Infineon, L’Oréal, and Schneider Electric. EMs, which lagged the index, were boosted by the improving outlook for semiconductor companies TSMC and Samsung. Mexico’s FEMSA also contributed strongly to relative returns. Europe ex EMU was the weakest region primarily due to the underperformance of SE Banken and UK miner Rio Tinto Group (NYSE:RIO). The latter was affected by concerns over softer iron ore pricing in the current year, another reflection of manufacturing weakness in steelmaking giant China.”

As of Q2 2023, 29 hedge funds reported owning a stake in Rio Tinto Group (NYSE:RIO).