George Soros - $126 million in CCO This is a vote of confidence in CCO (and uranium generally) - hadn't seen this number before.
Cameco
It may seem shocking that hedge funds are moving into uranium given the negative headlines that have surrounded the industry since the Fukushima disaster in 2011. However, we have seen a number of hedge funds making sizable bets on the industry.
Last quarter billionaire investor George Soros almost doubled the size of his position in uranium mining giant Cameco (TSX:CCO)(NYSE:CCJ). Today, Soro’s total stake of common shares and call options is now worth $126 million. Other smart money operator are also optimistic. Billionaire investors including Louis Bacon, Steven Cohen, and Ray Dalio either initiated or increased their stakes in the company last quarter.
There are a couple of reasons to be optimistic. First, the Japanese government has toned down its anti-nuclear rhetoric. It is drafting a new energy plan that describes atomic energy as an “important source of electricity for Japan”. Second, low uranium prices have forced operators to close down projects and scale back production. Both developments should put a floor underneath uranium prices and are bullish for Cameco shares.
From this article:
3 Surprising Canadian Stock Picks From Billionaire Money Managers
https://www.fool.ca/2014/03/12/3-surprising-canadian-stock-picks-from-billionaire-money-managers/