Weather-Related Production Disruptions Weigh on Cameco (CCJ)

Weather-Related Production Disruptions Weigh on Cameco (CCJ)

Fri, September 18, 2026 at 3:48 PM GMT+3 2 min read

• CCJ -1.27%
• CCJ -1.27%

Reaves W H & Co Inc's second-quarter 2026 investor letter reports a 10.55% increase for its "Reaves Long Term Value Wrap Strategy," outperforming the MSCI USA Infrastructure Index's 6.31% decline. The letter can be downloaded here. Cash distributions grew 6.7% in the quarter compared to Q2 2025. Despite geopolitical uncertainty, investor sentiment remained strong. AI expansion benefits companies in construction, connectivity, and infrastructure, especially in utility, communication, engineering, electrical, and power sectors. The strategy's performance benefited from investments across the AI infrastructure ecosystem and support for physical infrastructure supporting AI at scale. Although risks persist, the long-term investment case for many companies remains strong, positioning the strategy for durable growth, increasing dividends, and attractive long-term returns. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.

In its second-quarter 2026 investor letter, Reaves Long Term Value Wrap Strategy highlighted Cameco Corporation (NYSE:CCJ). Cameco Corporation (NYSE:CCJ), a leading uranium-producing company, detracted from the Fund's performance this quarter. On September 17, 2026, Cameco Corporation (NYSE:CCJ) closed at $92.80 per share. Over the past month, Cameco Corporation (NYSE:CCJ) declined 9.47%, but its shares are up 7.68% over the past year. Cameco Corporation (NYSE:CCJ) has a market capitalization of $40.42 billion, and its stock has traded within a 52-week range of $77.70 to $135.24.

Reaves Long Term Value Wrap Strategy stated the following regarding Cameco Corporation (NYSE:CCJ) in its Q2 2026 investor letter:

"Cameco Corporation (NYSE:CCJ): Cameco underperformed during the quarter on weather-related production disruptions at its northern Saskatchewan uranium operations. The weakness came despite continued positive long-term developments across the nuclear fuel value chain, including U.S. govern ment backed financing to accelerate new nuclear construction and ongoing support for allied nation fuel supply chains."

Cameco Corporation (NYSE:CCJ) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 75 hedge fund portfolios held Cameco Corporation (NYSE:CCJ) at the end of the second quarter, compared to 73 in the previous quarter. While we acknowledge the potential of Cameco Corporation (NYSE:CCJ) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we discussed Cameco Corporation (NYSE:CCJ) and shared Jefferies' bullish views on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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This article is originally published at Insider Monkey.