The uranium sector has been under significant pressure over recent months, with CCJ correcting ~37%. However, in a similar fashion to industrial metal copper, we remain bullish on the long-term outlook for nuclear power, believing it’s arguably the only way the world will achieve its zero-emission goals over the coming years. This will lead to a significant supply/demand imbalance for uranium and, subsequently, higher prices, making the current pullback across the space a buying opportunity. We already hold a large enough position in domestic-facing portfolios, but there is room to increase our position within our international equities portfolio.
- We are considering increasing our CCJ position – MM currently holds CCJ in our International Equities Portfolio.
MM is long and bullish CCJ
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