Out of thousands of stocks that are currently traded on the market, it is difficult to determine those that can really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback the hedge funds employing these talents and can benefit from their vast resources and knowledge in that way. We analyze quarterly 13F filings of over 700 hedge funds and, by looking at the smart money sentiment that surrounds a stock, we can determine whether it has potential to beat the market over the long-term. Therefore, let’s take a closer look at what smart money thinks about Cameco Corporation (USA) (NYSE:CCJ).
Cameco Corporation (USA) (NYSE:CCJ) investors should be aware of a decrease in activity from the world’s largest hedge funds recently. At the end of this article we will also compare CCJ to other stocks, including Michaels Companies Inc (NASDAQ:MIK), Zillow Inc (NASDAQ:Z), and Quanta Services Inc (NYSE:PWR) to get a better sense of its popularity.
According to most shareholders, hedge funds are viewed as unimportant, old investment tools of the past. While there are greater than an 8000 funds with their doors open at present, We look at the upper echelon of this group, approximately 700 funds. These hedge fund managers direct the lion’s share of all hedge funds’ total asset base, and by paying attention to their unrivaled investments, Insider Monkey has discovered several investment strategies that have historically outstripped Mr. Market. Insider Monkey’s small-cap hedge fund strategy outrun the S&P 500 index by 12 percentage points a year for a decade in their back tests.
Now, we’re going to go over the recent action encompassing Cameco Corporation (USA) (NYSE:CCJ).
How have hedgies been trading Cameco Corporation (USA) (NYSE:CCJ)?
At the Q3’s end, a total of 21 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -19% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Adage Capital Management, managed by Phill Gross and Robert Atchinson, holds the most valuable position in Cameco Corporation (USA) (NYSE:CCJ). Adage Capital Management has a $115.3 million position in the stock, comprising 0.3% of its 13F portfolio. The second largest stake is held by Kopernik Global Investors, led by David Iben, holding a $76.6 million position; 16% of its 13F portfolio is allocated to the company. Other peers that hold long positions consist of Thomas E. Claugus’ GMT Capital, Israel Englander’s Millennium Management, and Cliff Asness’ AQR Capital Management.