Opinions
The Panic-Proof Portfolio (Stockchase Research)
Sprott Uranium Physical Trust
U.UN-T
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Nov 19, 2024
$27.090
Stock price when the opinion was issued
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BUY
Cameco question Sprott Uranium Physical Trust (U.UN-T which he owns) which buys spot uranium which Sprott recently took over and recently raised $300 million in an at-the-market offering in order to buy spot uranium. This is an illiquid market, so spot uranium is a self-fulfilling price move. Utilities will get caught short on this move. He doesn't like Cameco because it's expensive, volatile with spotty earnings. Balance sheet is fine, but missed its last quarter. The stock has moved up with the price of spot uranium. Watch the uranium move, which is in its early days, but he prefers U.UN itself.
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RISKY
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.
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Given current global uncertainty following the recent US election and events in Europe, holding commodities are a good hedge at the moment. U.UN holds physical uranium that is unencumbered and fully allocated. We recommend setting a stop-loss at $20, looking to achieve $32 -- upside potential of 18%. Yield 0%