We have a different outlook across the 3 energy groups looked at today:
Oil & gas – We see no reason to establish positions in Woodside or Santos as the wind comes out of the space with the US-Iran War approaching the pointy end of negotiations.
Coal – We are very bullish towards coal stocks through 2026 with Whitehaven and New Hope our top picks.
Uranium – We are bullish in the medium and long term towards nuclear power, liking Paladin as a producer, NexGen for its large scale asset, and Silex as a more speculative play on its technology. We also hold Cameco (NYSE:CCJ) in the International Equities Portfolio.
