5 Best Cyclical Stocks For Inflation

In this article, we discuss 5 best cyclical stocks for inflation. If you want to read about what cyclical stocks are and how they perform during times of surging inflation, you can go to 10 Best Cyclical Stocks For Inflation

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

Number of Hedge Fund Holders: 66

Soaring commodity prices are an indicator of the start of a global economic expansion cycle, hence proving to be a critical point for investors to benefit from cyclical stocks. Freeport McMoRan Inc. (NYSE:FCX) engages in the mining of mineral properties in North America, South America, and Indonesia. The company explores copper, gold, molybdenum, silver, and other metals, along with oil and gas. On March 24, 2022, Jefferies analyst Christopher LaFemina upped his price target on Freeport-McMoRan Inc. (NYSE:FCX) to $65 from $58 and reiterated a Buy rating on the shares.

This January, Freeport-McMoRan Inc. (NYSE:FCX) released its earnings report for the fiscal fourth quarter of 2021. The company reported earnings per share of $0.96, beating market consensus by $0.02. The company’s revenue for the quarter saw an increase of 37.13% year over year, from $4.50 billion in 2020 to $6.16 billion in 2021. Moreover, the stock has gained 51.46% over the past six months as of March 31, 2022.

Out of the 924 elite hedge funds being tracked by Insider Monkey, 66 held stakes in Freeport-McMoran Inc. (NYSE:FCX) at the close of the fourth quarter of 2021. The total value of these stakes was roughly equal to $3.77 billion. This is compared to 66 positions in the third quarter of 2021 with stakes worth $3.21 billion. The investor sentiment for the stock is positive.

As of the fourth quarter of 2021, Fisher Asset Management is the top stakeholder in the company. The fund’s stakes in Freeport-McMoran Inc. (NYSE:FCX) were estimated to value at $2.03 billion, which represents 1.14% of Fisher Asset Management’s Q4 2021investment portfolio.

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