5 Cheap Nuclear Energy Stocks to Buy Amid Energy War

PE Ratio as of September 2: 5.02

Rio Tinto Group (NYSE:RIO) is a leading mining company that mines uranium and other mineral resources. The company is among the largest producers of uranium in the world and has two primary uranium mining facilities, the Ranger Uranium Mine of Energy Resources in Australia and the Rössing Uranium Mine in Namibia, Southern Africa.

On July 28, JPMorgan analyst Lyndon Fagan raised his price target on Rio Tinto Group (NYSE:RIO) to 5,350 GBP from 5,300 GBP and maintained a Neutral rating on the shares.

As of September 2, Rio Tinto Group (NYSE:RIO) is trading at a PE multiple of 5.02 and is offering a forward dividend yield of 12.59%, which the company supports with free cash flows of roughly $15 billion.

At the end of the second quarter of 2022, 24 hedge funds were bullish on Rio Tinto Group (NYSE:RIO) and held stakes worth $1.72 billion in the mining giant. Of those, Fisher Asset Management was the most prominent shareholder, with stakes worth $905.6 million in the company.