5 Precious Metals Stocks to Buy According to Ken Fisher

4. Steel Dynamics, Inc. (NASDAQ:STLD)

Number of Hedge Fund Holders: 29

Headquartered in Fort Wayne, Indiana, Steel Dynamics, Inc. (NASDAQ:STLD) operates as a steel producer and metal recycler in the United States. The Metals Recycling Operations segment processes metals into reusable forms and grades, and offers nonferrous products including aluminum, brass, copper, and stainless steel. 

In the fourth quarter of 2021, Ken Fisher elevated his stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 189%. Securities filings for Q4 reveal that his fund owned 188,534 shares of the company, worth $11.70 million. 

Emily Chieng from Goldman Sachs kept a Buy rating on Steel Dynamics, Inc. (NASDAQ:STLD) and lifted the price target to $80 from $75 as part of a broader research note. The analyst upgraded her model to account for commodity price and cost assumptions amid the macro backdrop. 

Among the hedge funds tracked by Insider Monkey, 29 hedge funds were long Steel Dynamics, Inc. (NASDAQ:STLD), up from 23 funds in the prior quarter. D E Shaw is the leading shareholder of the company, with 1.2 million shares worth $75.5 million.