In this article we discuss the 5 best uranium stocks to buy now. If you want to read our detailed analysis of these companies, go directly to the 10 Best Uranium Stocks to Buy Now.
At Insider Monkey we leave no stone unturned when looking for 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 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. 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 homepage. Keeping this in mind, let’s take a look at the best uranium stocks to buy now:
5. BHP Group (NYSE: BHP)
Number of Hedge Fund Holders: 23
BHP Group (NYSE: BHP) is an Australia-based global resources company founded in 1885. It is ranked fifth on our list of 10 best uranium stocks to buy now. The stock has returned more than 48% to investors over the course of the past twelve months. The group has a diverse range of interests in mining, with stakes in oil, gas, copper, silver, zinc, and uranium, among other resources. In 2020, the uranium production of BHP was 3,678 metric tons of payable metal in concentrate.
BHP Group (NYSE: BHP) is a solid option for dividend investors as the firm pays a regular and healthy dividend. On March 1, the company declared an ADS interim dividend of $2.02 per share.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.
In its Q1 2021 investor letter, Harding Loevner, an asset management firm, highlighted a few stocks and BHP Group (NYSE: BHP) was one of them. Here is what the fund said:
“Our purchase of Australian mining company BHP is an example of a quality company at a moderate valuation that should deliver attractive long-term returns. We believe the market has undervalued its enduring competitive advantage due to its low cost iron and copper mining operations which has allowed the company to deliver consistent profits and cash flows across the inevitable ups and downs of the global metals cycle. While the variability of commodity prices prevents BHP from scoring in the top ranks of measured quality, we are willing to bear some of that uncertainty in return for a more attractive valuation given the company’s strong business fundamentals.”
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.
3. NexGen Energy Ltd. (NYSE: NXE)
Number of hedge fund holders: 13
NexGen Energy Ltd. (NYSE: NXE) is a Canada-based company founded in 2011 that is working on the exploration, development, and acquisition of uranium-related projects. It is ranked third on our list of 10 best uranium stocks to buy now. The stock has returned more than 222% to investors over the course of the past twelve months. One of the premier projects of the firm is the Rook I project that consists of 32 contiguous mineral claims over 35,065 hectares located in the Athabasca Basin of Saskatchewan region.
In February, NexGen Energy Ltd. (NYSE: NXE) shares were down more than 6% post-market after the firm announced that a syndicate of underwriters led by BMO and Canaccord Genuity had agreed to buy 33.4 million NextGen shares at C$4.50 per share in a deal offering.
Out of the hedge funds being tracked by Insider Monkey, New York-based firm Falcon Edge Capital is a leading shareholder in NexGen Energy Ltd. (NYSE: NXE) with 6.2 million shares worth more than $22.7 million.
2. Ur-Energy Inc. (NYSE: URG)
Number of hedge fund holders: 4
Ur-Energy Inc. (NYSE: URG) is a Colorado-based company that engages in the mining, recovery, and processing of uranium. It was founded in 2004 and is placed second on our list of 10 best uranium stocks to buy now. The company’s shares have returned more than 152% to investors over the course of the past twelve months. The company has 12 uranium-related mining interests in the United States, including the Lost Creek project that comprises a total of 1,800 unpatented mining claims and three Wyoming mineral leases.
On May 7, Ur-Energy Inc. (NYSE: URG) posted quarterly earnings results for the first three months of 2021, reporting earnings per share of -$0.04, missing market predictions by $0.03.
At the end of the first quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $6 million in Ur-Energy Inc. (NYSE: URG), the same as in the preceding quarter worth $4.8 million.
1. Cameco Corporation (NYSE: CCJ)
Number of Hedge Fund Holders: 30
Cameco Corporation (NYSE: CCJ) is a Canada-based company that produces and sells uranium. It was founded in 1988 and is ranked first on our list of 10 best uranium stocks to buy now. The stock has returned more than 103% to investors over the past year. The firm is the second largest uranium producer in the world, accounting for at least 18% of the total production of the resource. In addition to North America, the company has business interests in Europe and Asia as well.
Cameco Corporation (NYSE: CCJ) posted quarterly earnings results on May 7, reporting earnings per share of -$0.07, beating market predictions by $0.01. The revenue for the first three months of 2021 was $290 million, down 16% year-on-year.
Out of the hedge funds being tracked by Insider Monkey, Florida-based investment firm Kopernik Global Investors is a leading shareholder in Cameco Corporation (NYSE: CCJ) with 9.8 million shares worth more than $163 million.
You can also take a peek at 10 Blue Chip Dividend Stocks Hedge Funds Are Buying and 14 Best European Dividend Stocks To Buy.
