Cameco Corporation (CCO.TO)

Clear leader, demand is going up around the world. Generally, shift to cleaner energy over time. Oil prices have been moving higher based on geopolitical pressures and stronger demand than expected. Likes the space. Long-term contracts. High valuation right now, expensive. He owns just a smattering.

Rather than try to predict the future of commodity prices, which is difficult, his firm tries to prepare for various outcomes. Has done extremely well, driven by high price of the commodity, which is at highest level since 2007. One of the world's largest producers, operates globally. Also owns 49% of Westinghouse.

Likes its assets, which are in good geopolitical jurisdictions, a real advantage. Main competition is in Kazakhstan, which comes with complications.

However, current valuation of 40x PE is very expensive. Trailing earnings is 80x. No dividend. Take money off the table and invest where there's more upside.

One of the world's largest producers of uranium, essentially a pure play. One of a very small number of public companies in the space. Stable source. Uranium markets are very tight. Earnings up 134%, expected to rise again this year and next. Perfect fit for a momentum portfolio. Change in prevailing view on nuclear energy. Westinghouse acquisition is the icing on the cake. Yield is 0.2%.

They had a spectacular run for the last two years. He rode this, but now the whole world is on this. Shares are pulling back, because nuclear plants take a long, long time to complete. With the price of uranium, countries and companies need to build new mines and these take time. Buy on pullback but only partially. He expects lower prices ahead.

They had a spectacular run for the last two years. He rode this, but now the whole world is on this. Shares are pulling back, because nuclear plants take a long, long time to complete. With the price of uranium, countries and companies need to build new mines and these take time. Buy on pullback but only partially. He expects lower prices ahead.

A go-to name in the energy renaissance in NA. Expensive at 27x 2025 earnings. Modelling 40% EPS growth. A good name. Probably in Buy territory on the 200-day MA. A buy on fundamentals.

He feels it is too expensive and could easily come off even with increasing uranium prices. It could make $3 billion in the next 5 to 7 years but the market cap is 23 billion. Has 1 1/2 billion in assets now. He moved their uranium holdings to Denison for production in two years without the volatility of Cameco.

When Russia invaded Ukraine there were fears of an energy shortage and a drive for nuclear power, despite its long lead time to build these plants. That catalyst pushed CCO shares up; the easy money has been made.  Shares are too high now.

Has owned for a long time, rare for him. Consolidating right now. Might see more yo-yo action, but picture is good so far. As long as it doesn't truly break down, he'll stay in. Not a bad point to buy, but may tread water a while.

It just broke its previous 2007 high. CCO is at the heart of the current energy transition. Little uranium will come on stream in the next 5 years. So, there's a built-in glut. If you have a strong profit, sell half, but hold this long term. Expect volatility in all uranium.

Uranium sector off to a strong start in 2024. Contractual commitments a concern due to rising spot price (not maximizing revenue). Quesiton is whether production can be increased in Saskatchewan. Nuclear power trend moving in the right direction. Small modular reactors a promising development (new market for company). Recently sold on stock price strength. Would wait for weakness in shares before buying. Fundamentals look good.

Renaissance for nuclear energy. Lots of positive sentiment. With Westinghouse, changed business mix a bit, no longer as sensitive to uranium commodity price. Also gives them some servicing revenues. Likes the strategy. Revenue growth quite strong, cashflow strong. 

Valuation still too high, he's wary. Hot sector, a lot of money's rushed in. Buy on weakness.

Does not own shares in Uranium. Unsure on future of nuclear demand. Stigma is that nuclear energy is risky. Would prefer investing in oil/gas stocks. 

He likes uranium in the materials space and nuclear energy as a power source. It was the first in the materials sector to make a new high when materials turned higher. It is a big producer and recently exceeded its all time high. Earnings should be up a lot. He owns BWX Technologies (BWXT). It has been building small nuclear reactors for decades for the U.S. military and running them safely. It is now getting them commercialized and working with Ontario Power.