5 Most Profitable Gold Stocks To Invest In

2. Freeport-McMoRan Inc. (NYSE:FCX)

Number of Hedge Fund Holders: 83

Latest TTM Net Income: 1.83 billion

Located in the Freeport-McMoRan Center in Phoenix, Arizona, Freeport-McMoRan Inc. (NYSE:FCX), commonly known as Freeport, is a prominent American mining company. Renowned as the world’s largest molybdenum producer, it also holds a significant position in copper production and operates the largest gold mine globally, the Grasberg mine located in Papua, Indonesia.

On January 24, Freeport-McMoRan Inc. (NYSE:FCX) surpassed expectations in Q4 adjusted earnings, benefiting from increased copper demand and higher gold prices.

According to Insider Monkey’s fourth-quarter database, 83 hedge funds were bullish on Freeport-McMoRan Inc. (NYSE:FCX), compared to 73 funds in the previous quarter.