Earlier, we discussed the aggressive swings and current recovery in the lithium stocks, uranium stocks have experienced similar volatility of late although they’ve been dancing to a very different tune. US heavyweight Cameco has corrected ~22% over recent weeks after more than doubling in the last 18-months, again illustrating the cyclical nature of resource stocks. At MM we like the supply-demand dynamics towards uranium moving forward hence sharp pullbacks catch our attention.
- We exited CCJ in our International Equities Portfolio above $US50 in January, now back around $US40 its again under consideration.