5 Best Uranium Stocks To Buy

In this piece, we will take a look at the five best uranium stocks to buy. For more details about recent developments in the uranium industry and its potential to lead the change to renewable energy, check out 11 Best Uranium Stocks To Buy.

5. Uranium Energy Corp. (NYSE:UEC)

Number of Hedge Fund Investors in Q2 2023: 14

Uranium Energy Corp. (NYSE:UEC) is an American firm headquartered in Corpus Christi, Texas. It explores and sells uranium from mines in the U.S., Canada, and Paraguay. It is the first stock on our list that is rated Strong Buy on average, and analysts have set an average share price target of $7.02.

As of Q2 2023 end, 14 out of the 910 hedge funds part of Insider Monkey’s database were Uranium Energy Corp. (NYSE:UEC)’s investors. Richard Driehaus’s Driehaus Capital is the firm’s largest shareholder among these, as it owns five million shares that are worth $17 million.

4. Sibanye Stillwater Limited (NASDAQ:SBSW)

Number of Hedge Fund Investors in Q2 2023: 19

Sibanye Stillwater Limited (NASDAQ:SBSW) is a South African mining company whose Cooke project in South Africa has 39 million pounds of uranium. These days though the firm is focusing on lithium instead of uranium as it is doubtful about uranium’s future in the renewable energy mix.

By the end of this year’s June quarter, 19 out of the 910 hedge funds profiled by Insider Monkey had bought the firm’s shares. Sibanye Stillwater Limited (NASDAQ:SBSW)’s biggest hedge fund investor is Ryan Schedler and Bradley Shisler’s Condire Investors due to its $23.6 million stake.

3. NexGen Energy Ltd. (NYSE:NXE)

Number of Hedge Fund Investors in Q2 2023: 19

NexGen Energy Ltd. (NYSE:NXE) is a Canadian uranium mine developer headquartered in Vancouver, Canada. The firm is currently busy developing its first mine in Saskatchewan, Canada, and the project is estimated to have a $1 billion price tag.

During this year’s second quarter, 19 out of the 910 hedge funds part of Insider Monkey’s database had invested in NexGen Energy Ltd. (NYSE:NXE). Brad Dunkley and Blair Levinsky’s Waratah Capital Advisors owns the largest stake among these which is worth $19.6 million.

2. BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Investors in Q2 2023: 23

BHP Group Limited (NYSE:BHP) is one of the largest mining companies in the world, particularly when it comes to iron ore. These days, it wants Australia to lift its bans on nuclear power plants if the country wants to progress towards a carbon free energy generation future.

Insider Monkey dug through 910 hedge funds for their June quarter of 2023 investments and discovered that 23 had bought and invested in the mining giant’s shares. BHP Group Limited (NYSE:BHP)’s biggest investor in our database is Ken Fisher’s Fisher Asset Management as it owns $1.1 billion worth of shares.

1. Cameco Corporation (NYSE:CCJ)

Number of Hedge Fund Investors in Q2 2023: 54

Cameco Corporation (NYSE:CCJ) is a diversified uranium company that provides both the fuel as well as the components that are used in nuclear reactors. Its shares are rated Strong Buy on average, and analysts have set an average share price target of $45.77.

54 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 research were Cameco Corporation (NYSE:CCJ)’s investors. Richard Driehaus’s Driehaus Capital owns the largest stake among these which is worth $130.7 million.

Disclosure: None. You can also take a look at 12 Best Metal Stocks To Invest In and 12 Best German Stocks To Buy Now.

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