Top 5 Zinc Stocks Picked By Hedge Funds for 2022

In this article, we shall discuss the top 5 zinc stocks picked by hedge funds for 2022. To read our detailed analysis of the zinc and precious metals industry in 2022, go directly and see Top 10 Zinc Stocks Picked By Hedge Funds for 2022.

5. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holdings: 24

Based in London, UK, Rio Tinto Group (NYSE:RIO) is an Anglo-Australian multinational metals and mining company. It is the second-largest mining corporation in the world and in 1962, merged with Consolidated Zinc to form the Rio Tinto – Zinc Corporation and its main subsidiary, Conzinc Riotinto of Australia.

On October 19, JPMorgan analyst Lyndon Fagan raised the price target on Rio Tinto Group (NYSE:RIO) to $6113.32 from $6079.86, maintaining a Neutral rating on the shares. The analyst contends that the new management which has taken charge of the company has not been able to change the overall attitude towards corporate sustainability which had prospered within the company for years. This, combined with the rise in global tensions and macroeconomic pressures, has increased operational risk for the mining mammoth. However, the analyst also ascertains that the company is currently in a bull cycle and is expected to continue on its current growth trajectory.

As of Q2 2022, Rio Tinto (NYSE:RIO) is big on dividends to shareholders, having an annual dividend yield of 10.50% and a quarterly dividend of $1.50 per share. In Q2 2022, the company delivered an underlying EBITDA of $15.6 billion and a total revenue of $60.2 billion. Hedge fund sentiment around Rio Tinto Group (NYSE:RIO) took a hit, with 24 hedge funds long the stock in Q2 2022, down from 26 in the preceding quarter.