Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters Team, Wisetech has fallen below $90 - On 4/9 MMatters said would consider averaging around $90. Is this your current view? Will you be adding to WTC holding? EL8 - Elevate Uranium - Can I get your view on this Uranium stock. Do you see the bullish run in Uranium continuing for EL8? regards Debbie Do you think WTC Wise Tech is a buy? - Barbara P.
Hi Guys,
Yes, we are looking at averaging our WiseTech (WTC) position in the Active Growth Portfolio as it trades around $90 however, in the short term it feels like its lost its “Mojo” and we’ve been pedantic on price. The founder Richard White recently sold a small portion of his holding which is likely to have capped the stock short term, but we still believe it’s a quality company that’s presenting value into current weakness.
Elevate Uranium (EL8) (formerly Marenica Energy) is a small $175mn uranium company that explores, develops, and aims to commercialise uranium deposits. The company currently isn’t profitable but “hopes” it can reach first FY profitability in 2029–2030, assuming everything goes smoothly, uranium prices are favourable, and the U‑pgrade™ process scales as hoped.
Hence to us it’s more a trading vehicle at this stage of its evolution, we think EL8 looks good as a trade, in line with our bullish outlook for the uranium thematic, and we can see a test of 60c over the coming year, or ~30% higher.
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