Aristotle Capital Management, LLC, an investment management company, released its “Aristotle Global Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -13.17% at NAV compared to a -15.66% return for the MSCI ACWI Index and -16.19% return for the MSCI World Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Capital discussed stocks like Cameco Corporation (NYSE:CCJ) in the second quarter of 2022 investor letter. Headquartered in Saskatoon, Canada, Cameco Corporation (NYSE:CCJ) is a uranium-producing company. On October 6, 2022, Cameco Corporation (NYSE:CCJ) stock closed at $26.82 per share. One-month return of Cameco Corporation (NYSE:CCJ) was -11.22% and its shares gained 25.86% of their value over the last 52 weeks. Cameco Corporation (NYSE:CCJ) has a market capitalization of $10.808 billion.
Here is what Aristotle Capital specifically said about Cameco Corporation (NYSE:CCJ) in its Q2 2022 investor letter:
“After making a strong run in the beginning of the year, Cameco Corporation (NYSE:CCJ), the world’s largest publicly traded uranium producer, was a primary detractor for the quarter. As countries focus on energy security and increasingly rely on nuclear energy, market dynamics are shifting in Cameco’s favor. Supply has tightened as the developed world pivots from Russia, a large supplier of uranium, while demand for non-Russia-linked uranium has increased. While we recognize there has been, and will likely continue to be, short-term volatility in uranium prices, we admire Cameco’s prior actions of operational discipline, which we believe have positioned the company to benefit from the current market dynamics. Cameco remains focused on prudently and profitably increasing production of its Canada-based assets, including an increase of its ownership stake in the Cigar Lake joint venture, as well as the planned start of production at the McArthur River/Key Lake mines in 2024. As these operations come online, we believe Cameco will be able to meet its utilities customers’ demand for long-term supply at higher equilibrium prices.”
Cameco Corporation (NYSE:CCJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Cameco Corporation (NYSE:CCJ) at the end of the second quarter which was 43 in the previous quarter.
We discussed Cameco Corporation (NYSE:CCJ) in another article and shared Aristotle Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
