Aristotle Capital Management, an independent/employee-owned investment management organization, published its “Global Equity Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. For the first quarter of 2022, Aristotle Capital’s Global Equity Composite posted a total U.S. dollar return of -9.19% gross of fees (-9.28% net of fees), compared to the MSCI World Index, which returned -5.15%, and the MSCI ACWI Index, which returned -5.36%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Aristotle Capital Management Global Equity mentioned Cameco Corporation (NYSE:CCJ) and explained its insights for the company. Founded in 1988, Cameco Corporation (NYSE:CCJ) is a Saskatoon, Canada-based publicly traded uranium company with a $9.6 billion market capitalization. Cameco Corporation (NYSE:CCJ) delivered a 10.41% return since the beginning of the year, while its 12-month returns are up by 22.48%. The stock closed at $24.08 per share on May 25, 2022.
Here is what Aristotle Capital Management Global Equity has to say about Cameco Corporation (NYSE:CCJ) in its Q1 2022 investor letter:
“Cameco, the world’s largest publicly traded uranium producer, was a primary contributor for the quarter. After years of stringent operational discipline that included production cuts, inventory reduction and market purchases, the company has reported strengthening market fundamentals, as industry-wide supply concerns continue to abate. The improving conditions can provide Cameco significant leverage to drive higher prices under its market-related contracts. Moreover, the company has obtained 70 million pounds of additional long-term contracts since the beginning of 2021, demonstrating Cameco’s strong position to capture increasing demand. Nevertheless, management has reiterated its commitment to maintaining supply discipline while continuing to invest in operational efficiency through automation, digitization and training. As such, the company expects to see significant improvements in cash flow generation, as it ramps up to its 2024 planned production capacity. We believe Cameco’s disciplined approach and conservative financial management continue to reinforce its long-term position and its ability to return value to shareholders. This was recently demonstrated when Cameco’s board approved a 50% increase to the company’s annual dividend for 2022.”
nuclear-2082637_1280
Our calculations show that Cameco Corporation (NYSE:CCJ) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Cameco Corporation (NYSE:CCJ) was in 43 hedge fund portfolios at the end of the first quarter of 2022, compared to 37 funds in the previous quarter. Cameco Corporation (NYSE:CCJ) delivered a 17.29% return in the past 3 months.
In April 2022, we published an article that includes Cameco Corporation (NYSE:CCJ) in 4 Stocks to Sell Now According to Mitch Cantor’s Mountain Lake Investment Management. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
