5 Mining Stocks with Heavy Insider Buying in 2024

3. Warrior Met Coal, Inc (NYSE:HCC)

Number of Hedge Fund Investors: 25

Metallurgical coal mining company Warrior Met Coal, Inc (NYSE:HCC) ranks third in our list of the mining stocks with heavy insider buying in 2024. On February 23, Alan H Schumacher, one of the directors at Warrior Met Coal, Inc’s (NYSE:HCC) board, loaded up on 2,000 shares of Warrior Met Coal, Inc (NYSE:HCC) at $58.15 per share. Since then the stock has decreased by 2.36%.

As of the end of the fourth quarter of 2023, 25 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Warrior Met Coal, Inc (NYSE:HCC). The biggest stake in Warrior Met Coal, Inc (NYSE:HCC) is owned by Brad Dunkley and Blair Levinsky’s Waratah Capital Advisors which owns a $71 million stake in Warrior Met Coal, Inc (NYSE:HCC).

O’keefe Stevens Advisory stated the following regarding Warrior Met Coal, Inc. (NYSE:HCC) in its fourth quarter 2023 investor letter:

“Warrior Met Coal, Inc. (NYSE:HCC) is the other commodity producer in the portfolio, and what a year 2023 was. It’s startling how two companies (EAF and HCC) having the same end market (steel)(EAF – electric arc furnace production)(HCC – blast oxygen furnace) could see their product prices and demand drivers move in opposite directions. If anything, the continued switch toward electric arc furnaces suggested that Graftech had more tailwinds over the past several years. Yet the business performance has been just the opposite. These investments take up substantial time and continually search for reasons why the stocks move lower daily, but also a mental drain; watching a stock move lower and lower wears one down over time.”