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Miller Value Partners is Bullish on The Chemours Company (CC) Stock

Miller Value Partners recently released its Q3 2020 Investor Letter, a copy of which you can download here. In the third quarter, the Miller Income Strategy fund returned 7.89% versus 4.71% for the ICE BofA Merrill Lynch High Yield Index. You should check out Miller Value Partners' top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the said letter, Miller Value Partners highlighted a few stocks and Chemours Co (NYSE:CC) is one of them. Chemours Co (NYSE:CC) is a chemical company. Year-to-date, Chemours Co (NYSE:CC) stock gained 15.4% and on November 2nd it had a closing price of $20.88. Here is what Miller Value Partners said:

"The Chemours Co (CC) rose 37.8% over the period. The company reported Q2 revenue of $1.093Bn, topping consensus of $1.087Bn by 1% while EBITDA of $166M beat estimates of $160M by 4%. Free cash flow of $50M improved $167M Y/Y, driving a Q2 cash balance of $1Bn and total liquidity of $1.4Bn. Management remains on track to achieve $160M of cost and $125M of capital expenditure (capex) reductions in FY20. Additionally, the company repaid the $300M preemptive draw on their revolving credit facility during August and September."

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Tonhom1009/Shutterstock.com

In June, we published an article revealing Miller Value Partners bullish investment thesis on Chemours Co (NYSE:CC) stock in its Q1 2020 investor letter. This suggests that the investment firm has been bullish for a long time on Chemours Co (NYSE:CC).

In Q2 2020, the number of bullish hedge fund positions on Chemours Co (NYSE:CC) stock increased by about 9% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Chemours's growth potential. Our calculations showed that Chemours Co (NYSE:CC) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.

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