5 Best Uranium Stocks to Buy Now

4. Rio Tinto Group (NYSE: RIO)

Number of Hedge Fund Holders: 25  

Rio Tinto Group (NYSE: RIO) is a London-based mining company founded in 1873. It is placed fourth on our list of 10 best uranium stocks to buy now. The company’s shares have returned more than 56% to investors over the past year. The company has interests in iron ore, copper, diamonds, gold and uranium, among other metals. The company also has underground mines, mills, refineries, smelters, power stations, and research and service establishments. It is one of the biggest mining companies in the world in terms of market capitalization. 

On April 7, Rio Tinto Group (NYSE: RIO) announced that it had started production of battery-grade lithium from waste rock at a pilot plant in California. The shares of the company jumped more than 1.5% after the announcement. 

At the end of the first quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $1.5 billion in Rio Tinto Group (NYSE: RIO), down from 26 in the preceding quarter worth $1.7 billion.