The URNM ETF has almost doubled from its April low, outperforming the ASX basket of uranium stocks. This ETF holds a broad-based 41 stocks from Cameco, to NAC Kazatomprom, to Sprott Physical Uranium as it tracks a global basket of companies in the mining, exploration, development and production of uranium for 0.69% pa. It tracks the North Shore Uranium Mining Index very well, with both up +40% year-to-date.
- We are positive on the URNM ETF, but it’s a volatile beast, hence we wouldn’t chase strength; we like the risk/reward around 10.50.
MM is bullish on the URNM ETF medium term
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