Canadian-based heavyweight uranium producer CCJ was trading within 19% of its all-time high overnight before drifting into the close, a dream position for the local peers. The pullback from its highs last night suggests some consolidation around $US50 is likely after its 45% recovery. Still, we like the miner into any dips under $US50 from a risk/reward perspective, with surprises now likely on the upside.
- We are ultimately looking for a break of $US60 by CCJ, around 15-20% higher: MM is long CCJ in its International Equities Portfolio.
MM is long and bullish Cameco
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