Five Uranium Stocks to Buy According to Hedge Funds

As opposed to most of its peers, Rio Tinto plc (ADR) (NYSE:RIO) fell out of favor with hedge funds during the fourth quarter. At the end of 2015, 16 of the funds followed by Insider Monkey reported a stake in the British mining company, down from 19 at the end of the third quarter. The company has a market cap of roughly $53 billion and pays an annual dividend of $2.14 per share, providing investors with a yield of 7.15%. Israel Englander‘s Millennium Management stepped up its interest in Rio Tinto plc (ADR) (NYSE:RIO), having increased its investment by 75% during the quarter. In its latest 13F filing, Millennium Management indicated ownership of 1.35 million shares valued at $39.4 million. Ray Dalio’s Bridgewater Associates also likes Rio Tinto plc (ADR) (NYSE:RIO) and has boosted its holding by 23% to 374,900 shares held at the end of 2015.

Hedge fund sentiment towards Uranium Energy Corp. (NYSEMKT:UEC) did not change significantly during the quarter, with the number of long positions inching up to four by the end of December, from three a quarter earlier. Jim Simons‘ Renaissance Technologies reported a new stake in the company that amounts to 483,510 shares. Billionaire Ken Griffin‘s Citadel Investment Group is also optimistic about the prospects of the company, having increased its holding by 78% over the quarter to 113,560 shares. For the fourth quarter, Uranium Energy Corp. (NYSEMKT:UEC) reported a loss of $4.8 million or $0.05 per share. The Canadian uranium company has also raised $10.5 million in a recent offering, planning to use the money for general corporate and working capital purposes.

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