Cameco Corporation (CCO.TO)

He owns some bonds, but hasn't pulled the trigger on the equity. Disconnect between a 10-year horizon for contracts and the current spot price for uranium. Spot price won't be showing up in the profitability.

If you've made money, well done. Remember that commodities tend to overshoot in either direction. Don't add at these levels.

Beat last quarter, but guidance was a bit lower. Very attractive, multi-year outlook, but don't add here. About 40% growth, but trading ~75x PE for 2027. Ironically, a real risk to this name is if peace comes to the Ukraine-Russia war.

You have to have respect for stock prices at both ends of the extreme.

He’s a uranium bull for the next 10 years as a result of structural changes in the business. Also, uranium is the obvious winner from the Gulf conflict. His preference in the space.

The question was actually on the Uranium ETF, Global X. He likes the space for long term sector growth. The sector is good for AI infrastructure build-out and clean energy. Global X has a 24% holding in Cameco and he prefers to own Cameco directly. Cameco's technicals are strong.

Q4 earnings were well above, but guidance was 3% lower. Very attractive multi-year outlook -- demand for uranium won't stop, and this is your marquee player. Growth rate is 40%. Compounded annual growth is 26-28%, amazing.

Valuation is the problem, ~70x PE for 2027. Better value elsewhere.

Extremely overvalued, though he has loved this for many years. It's ahead of its skiis. Would enter when the price is cut in half.

Good buying opportunity. Part of the AI data centre buildout. Market volatility means some are taking profits in this name, but still good long-term hold (at least 5 years).

Pullback simply a result of its big run plus money flow into all commodities. Longer term, lots of runway. World's moving to nuclear. Has revenue and growing earnings. Work your way in on pullbacks.

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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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.