NexGen Energy (NXE-T)

Many nuclear power stocks benefited from the AI trade and expectations for increased energy demand for AI data centers, but the expected need for increased power may not be as big as expected, and investors are worried about the AI CAPEX cycle rolling over. NXE is a $3.8B company that is pre-revenue, and mostly funds its operations through share dilution. Like most stocks, NXE has fallen a lot over the past several months, and given the recent weak momentum, we would prefer to see some stabilization in its price before adding to the name, but we would be comfortable holding it here. Its future prospects look good, but it is not expected to be profitable for a few years, and so much of its price will be determined by expectations for future nuclear energy demand. 
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Broken out to new highs. Benefits from falling interest rates, which should continue in Canada even if not in the US. Energy is a foundation of our economy, and as our economy grows we'd expect energy demand to grow as well. May have additional boost from newer sectors, like nuclear, growing more rapidly.

Came out of the position. Raised money, turned around and bought uranium, which was at odds with shareholders' ultimate best interests. Better use is to build up the company. Great asset, but that move was off-strategy.

He holds it in an aggressive account and not the conservative one. He doesn't like the chart right now but if it dropped to $7 and bounced off, it would look interesting.

Largest undeveloped uranium deposit in the world. The bet is that the deposit is as good as test results say, and he thinks it is. Bullish on uranium. Real question is does the world need that much new uranium, or will we get a resolution for other global producers? Nuclear renaissance, contributing to increasing demand. Higher risk, since it doesn't produce either commodity or revenue yet.

Mine will probably get built. If you have the risk appetite, good entry point with the pullback. He owns CCO, bigger and actually producing.

Company's doing quite well. Recent earnings indicate some challenges. Would love to see consistent profitability, improve cashflow, reduce debt, execute on strategy a bit better.

Very strong demand for Uranium. Nuclear energy appears to be solution to long term power demands. Eastern European Uranium appears to be compromised. Great resource that has lots of opportunity. Management compensation very high, with questionable capital allocation at times. Would recommend a small position. 

Alternative energy companies haven't done well. Whole uranium sector's been doing well. With the Russia-Ukraine conflict, Canadian uranium's at a premium. A secondary play, may end up doing well. He prefers CCO.

More of a a uranium developer with many large, undeveloped uranium deposits. They just got a permit in Saskatchewan to develop a mine there. The uranium market is growing tight; is a big uptick in electrical utility contracting for uranium to shore up supply. This mine will get built. Things look good, but the company is a little speculative and beyond his risk tolerance.

Uranium has done well but the fast pace may slow down. Wage, materials and interest costs are up so you need to look ahead several years. Wait for a better entry level.

Uranium is hot now and he likes commodities. Nuclear is the history of power. NXE looks overbought now after recently breaking out of its trading range. A high chance it will pull back to its neckline. That's fine as long as it doesn't keep falling.

Is no cash flow, but they're sitting on two monster uranium deposits in Saskatchewan. He likes uranium. The Fukushima disaster is behind us and mindsets are embracing nuclear energy again. This is likely a take-out target given their deposits. It's too speculative for him. They aren't producing and lack cash flow. That said, you can study this to see if there is value, given those deposits.

He likes the uranium space a lot and feels it will do well.  He has sold some uranium stocks at a good profit. NexGen has not yet broken the lid so be neutral on the stock at this time. There are different levels of resistance.

NXE is a $2.7B company that is pre-revenue that operates in the exploration and development of uranium properties in Canada. It has a decent cash balance of $141.3M and an equity position of $481.9M. It does not generate free cash flow, and mostly issues shares and debt to fund its operations. It has performed well over the years, supported by a growing interest in nuclear energy. We like NXE as part of a play on nuclear energy, but would be mindful of its smaller size, that it is pre-revenue, and higher risks from the nuclear energy industry. 
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Two very different beasts in the same industry. NXE will probably have the next project built in Canada. CCO is the granddaddy of traditional mining. Buy NXE if you're looking for the rerate, but with it comes risk. Doesn't see an issue getting fully financed, but then comes execution. Track record for things going according to plan is not great for mining. 

CCO is your best way to get exposure to uranium, which is undergoing a renaissance. Predictability, bit of a dividend, real upside from today's uranium price.