4 Uranium Stocks You Should Buy Now

2. BHP Billiton Limited (ADR) (NYSE:BHP)

Investors with Long Positions (as of June 30): 19

Aggregate Value of Investors’ Holdings (as of June 30): $146.05 Million

BHP Billiton Limited (ADR) (NYSE:BHP) is involved in producing a wide range of commodities besides uranium including iron ore, coal, oil and gas, copper, and aluminium. Jeffries upgraded the stock today to ‘Buy’ and set a price target of $40 on it, which provides an upside of more than 17% to the current price. At the end of March a total of 17 hedge funds had a total investment of $301.14 million in BHP Billiton, while the stock price slumped by over 12% during the second quarter, so even though the popularity of the company grew in terms of number of hedge funds having it in their equity portfolio, the aggregate investment saw a sharp decline. However, Daniel Bubis‘ Tetrem Capital Management, the largest stockholder of BHP Billiton Limited within our database was bullish on the company, raising its stake by 18% to about 613,000 shares during the second trimester.

1. Cameco Corporation (USA) (NYSE:CCJ)

Investors with Long Positions (as of June 30): 26

Aggregate Value of Investors’ Holdings (as of June 30): $284.56 Million

During the April-June quarter, hedge fund interest in Cameco Corporation (USA) (NYSE:CCJ) grew, as the aggregate investment rose from $248.26 million at the end of March, while the total number of firms with investments in the company remained the same at 26. The stock traded nearly sideways during this period, although it is down by almost 17% year-to-date. One of the world’s largest uranium miners, Cameco signed a deal with India in April of this year which involves satiating the emerging economy’s uranium needs for the next five years to the tune of 7.1 million pounds of uranium concentrate. Moreover, Cameco Corporation (USA) (NYSE:CCJ) also has its fingers in Chinese nuclear power projects, as the Asian country has plans to boost nuclear power’s contribution to its electricity generation to 20% by 2030 from the current level of 2%. Dr. Greg Eckel , who is Senior Vice-President of the investment firm Morgan Meighen & Associates said that Cameco Corporation operates in reliable areas as well, such as the U.S, Canada, Australia, and Kazakhstan. David Iben‘s Kopernik Global Investors increased its stake in Cameco Corporation by 25% during the second quarter to 6.09 million shares.

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