Here’s Why Centrus Energy Corp. (LEU) Rose in Q3
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3 2023, US stocks fell by 3%, bringing YTD gains to around 12% as measured by the Russell 3000 Index. The portfolio trailed the Russell 2000 Index in Q3 and returned -5.62% bringing the YTD returns to 6.70%. Relative weakness in consumer discretionary holdings, industrials, and technology impacted the performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Centrus Energy Corp. (AMEX:LEU) in the third quarter 2023 investor letter. Headquartered in Bethesda, Maryland, Centrus Energy Corp. (AMEX:LEU) is a nuclear fuel supplying company. On November 8, 2023, Centrus Energy Corp. (AMEX:LEU) stock closed at $48.51 per share. One-month return of Centrus Energy Corp. (AMEX:LEU) was -8.44%, and its shares gained 56.94% of their value over the last 52 weeks. Centrus Energy Corp. (AMEX:LEU) has a market capitalization of $744.434 million.
Diamond Hill Small Cap Fund made the following comment about Centrus Energy Corp. (AMEX:LEU) in its Q3 2023 investor letter:
"Other top individual contributors in Q3 included Centrus Energy Corp. (AMEX:LEU), Live Oak Bancshares and FTAI Aviation. Shares of nuclear fuel and services provider Centrus Energy rose during Q3 following the most recent World Nuclear Association meetings as investors begin recognizing the extent of the uranium market’s supply and demand mismatch — a reality which should improve pricing power for providers like Centrus."
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Centrus Energy Corp. (AMEX:LEU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Centrus Energy Corp. (AMEX:LEU) at the end of second quarter which was 11 in the previous quarter.
We discussed Centrus Energy Corp. (AMEX:LEU) in another article and shared the list of best uranium stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 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.
