This Hedge Fund is Betting Big on Mining Stocks and Here Are Its Top Picks

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#1 Cameco Corporation (USA) (NYSE:CCJ)

Shares held (as of September 30): 6.3 million
Total Value (as of September 30): $76.63 million
Percent of Portfolio (as of September 30): 16.03%

Cameco Corporation (USA) (NYSE:CCJ) is Kopernik Global Investors top mining pick, as the fund has a 6.3 million share holding worth over $76 million as of the end of September. Cameco has recently reported mixed third quarter earnings, with EPS of $0.20 on revenues of $649 million, missing profit estimates by $0.11 but beating revenue expectations. Given the forward P/E of 11.9 and dividend yield of 2.35%, shares look attractive. Look for shares to rebound strongly if crude or uranium ore prices rise. Among the long holders in the second quarter was George Soros‘ Soros Fund Management.

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Disclosure: none

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