Cameco Corporation (CCO.TO)

(Market Call Minute) Demand and political outlook aren’t good.

Valuation is high. He likes uranium, though. You are getting some re-starts in Japan. Supply is getting curtailed. Buy U-T.

Thinks this company is well situated. Have more things it could take over if it wishes to do so. Cigar Lake, which we have waited for so long, is going to come on. This should move the stock. Doesn’t see a near-term major catalyst.

He is no longer an investor in this company because of 1) the Fukushima event in Japan and 2) the natural gas situation which makes power generation through nuclear energy look much more expensive than the available alternative.

This one along, with other uranium players, had a big pop today. Chart shows about 2.5 years of basing activity. Trying to break the $23 level again. If it does break through that level, the stock could be absolutely on fire. However, his rule of thumb is that if you are in this stock you are probably best hold as it may just break out on news from Japan. If you don’t own, he would hold off to see if it breaks out.

(Top Pick Jul. 19/12, Up 22.11%)

Has owned it in the past. Starting to look good. The worse is over for Uranium generally. In Japan they don’t want to use coal. Uranium will make a comeback. Prefers U-T

Chart shows the stock has formed a base but has a little bit of a lid on it right now. Whenever you see a base, you want to see a break out and don’t presume it is going to happen until it happens.

(Market Call Minute.) Has been looking at this one. It is way too early. Thinks uranium moves eventually and is a Buy in about 2 years.

This is “the” direct play on uranium. What drives uranium market is what happens with the nuclear restarts in Japan. Also, the continual build in China and Russia and other emerging markets. Uranium spot prices are at around $40 with the long-term price at around $57. He prefers playing the commodity through Uranium Participation (U-T).

Likes that it is uniquely Canadian and a low cost producer in a long-term uranium environment. Over the years, they have had a cycle of brokers touting the stock with uranium prices moving up and the stock ultimately coming off. Better days are probably ahead and dividend payment is probably sustainable. He continues to watch this one for its long-term potential.

(Market Call Minute.) Largest uranium producer globally. Diversified in Canada and Kazakhstan.

Good for a 5-year investor. The one metal that has not recovered from the Japanese disaster. Purchasers are utilities and long term investors. Spot price is weekly. Sometimes there is only 1 trade. Change takes a long time. Does not know when Uranium will go up.

Loves Uranium and CCO. He has added over the last little while. You won’t see a real move in Uranium prices for 12-18 months. The most recent reason for decline in Uranium prices is Japan and they made the decision to re-start reactors. Either Uranium prices will go up or lights will go out.

(Top Pick May 4/12, Down 12.17%) The difficulty was that the uranium markets focused on Japan, but will be focused on Russia by end of year and whether they continue to push nuclear grade uranium into the market or not. The emerging markets will create a shortage over the next 2-3 years.