5 Best Uranium Stocks To Buy

2. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 26     

Rio Tinto Group (NYSE:RIO) engages in exploring, mining, and processing mineral resources worldwide. As one of the top mining stocks in the world, the company has extensive interests in the uranium space as well. On September 13, the stock of Rio Tinto rose 1.5% in premarket trading after the firm signed a Memorandum of Understanding with Volvo to work together to decarbonize one another’s operations.

On December 8, Morgan Stanley analyst Alain Gabriel maintained an Equal Weight rating on Rio Tinto Group (NYSE:RIO) stock and lowered the price target to 5,700 GBP from 6,040 GBP.

At the end of the third quarter of 2022, 26 hedge funds in the database of Insider Monkey held stakes worth $1.7 billion in Rio Tinto Group (NYSE:RIO), compared to 24 in the preceding quarter worth $1.7 billion. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Rio Tinto Group (NYSE:RIO) with 14.2 million shares worth more than $779 million.