CCJ closed up +1.9% overnight, a fairly muted move compared to the local names, but it did at least close well above its opening – we added to our CCJ position on open (Alert). Cameco is our go-to for overseas uranium exposure. Its latest quarter was good from the Canadian operations, and production is tracking to guidance, but it’s not been immune to weakness across the sector on a global level.
- We’re initially targeting the $US45 area for CCJ, or ~10% higher – MM holds CCJ in our International Companies Portfolio.
MM is long and bullish CCJ US
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