Cameco Corporation (CCO.TO)

Nuclear renaissance underway. War in Ukraine tightened supply, and now the US data centre buildout. Clean and green power. Backdrop is the best in decades. Secular growth story, despite its commodity production. Lots more ahead.

Caught momentum from nuclear reinvigoration globally -- key driver for that `is AI demand. By far, nuclear is the most stable and cost-effective. However, building out reactors is not easy (not to mention regulatory hurdles).

Strong underlying trends with demand for uranium. Great name. Another, but safer, way to play indirectly is with ATRL.

CCO is not perfect but if an investor is looking for general exposure in a relatively safe company we would still prefer it today over smaller companies with less profitability.
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Nuclear has really come into its own. Get your nuclear AI exposure directly through NVDA, MSFT, or CCO.

Probably has, by far, the largest uranium deposit in the world, and it's easy to access. The idea of nuclear coming back around the world will really help in the next little while. Stock's run up a lot in anticipation of that, so expect a pullback. Shift to smaller modules will also help.

It was quite interesting that they bought Westinghouse and now they hold 50% interest in the "arm supplier" to the nuclear business. Anything growing that involves nuclear with touch Westinghouse--he saw this as a growth avenue. CCO has a stable cash flow. Nuclear is a long-term growth industry because AI centres need power.

Fair bit of volatility, which gives a fantastic opportunity to write covered calls. Longer term, thinks it continues to go higher. Electronics plus data centres pose a power challenge in future. Nuclear is one way to solve this. When he plays the sector, this is typically the name he goes to.

Trades at 90x PE and 60x 2026. Will it grow into earnings or correct? Is cautious about stocks that have run up in the uranium space. Is cautious chasing strength but would buy weakness.

If its reality is going to be more growth and building of nuclear plants, this name will be involved. Have to think of it as a slow-growth story. Stock price is seeing volatility right now. If White House politicizes Federal Reserve and forces interest rates down to 1%, the USD will probably fall, which will send up commodity prices (as all commodities are priced in US dollars). That would put CCO, gold, oil & gas right in the wheelhouse for the future. But would also cause inflation, so the US has to tread slowly.

For the long run, decent buy at this level. For patient investors only. Yield is 0.22%.

Outlook for uranium is really strong, as is the outlook for nuclear power. Assuming we're going to get the buildout of data centres, the biggest concern will be power production. The granddaddy. Trading around, or just below, 50-day MA. Long-term MA's are sloped higher. Estimates for earnings are going up, not down.

Traded better than ~80% of companies in S&P over the last 52 weeks. Relatively early stages of a commodity bull market.

He doesn't really know enough about it. The stock's really going up with the price of uranium. With the AI buildout, everyone's looking to build more and more nuclear power plants. Nuclear will definitely play a bigger part of the energy in our lives.

Awesome breakout. Higher highs and higher lows. In an uptrend. Great stock. He doesn't buy just because the price touches the trendline, but waits for a bounce. As long as pullbacks hold, they're buyable.

CCO is a large-scale uranium producer and part of the nuclear supply chain, which is gaining support under the 'clean baseload power' and infrastructure transition narrative. We think it has some tailwinds from the AI and infrastructure angle, momentum has been great, and forward earnings estimates are trending higher. It trades at a premium valuation of 74X forward earnings, but margins have been reaccelerating and its free cash flow growth has been significant. We think it looks interesting here.
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Uranium pricing is moving higher. Great acquisition on nuclear from Westinghouse. First of the uranium companies to break out to new highs a couple of years ago. Giant structural base. Pricing power and volume growth. Core in his portfolio, not speculative. Will benefit over next few years from the environment we're in. Yield is 0.12%.

Wait for a pullback, as optimism of whole world on uranium is at fever pitch right now (but for very good reason). Need uranium and nuclear to be part of the power solution. Proxy for uranium market (illiquid and opaque), and spot uranium prices are very strong.