Opinions
Bryden Teich
Sprott Physical Uranium Trust (US$)
U.U-T
WEAK BUY
Nov 17, 2021
Stock price when the opinion was issued
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Not actually ETFs. At the centre of a firestorm whether uranium is being hoarded by financial services. A way to get uranium exposure.
Be careful with the alphabet soup of ETF suffixes when placing your trades, especially on the TSX. Sometimes it can mean USD series or currency hedged, but it's not consistent.
Uranium is very likely the most important metal to transition from burning carbon to doing less of it in the future. He's hugely bullish on it, though he has no way to forecast the price. Germany turned off all their nuclear generators, and now they're burning more coal than they ever have in history. Lots of geopolitical risk, as a huge amount of uranium comes out of Russia and Kazakhstan. Trump making friends with Putin matters, as does the pace of the world building out nuclear.
Concerned that lots of good news already priced in. Be cautious shorter term. Have to see if people are comfortable with smaller nuclear units in their backyards. If you buy, buy on dips.