Source: Chris Temple 09/25/2024
In light of the news that the Three Mile Island nuclear power plant is slated to be restarted by Constellation Energy Group with Microsoft as its sole dedicated customer for the next 20 years, Chris Temple of the National Investor shares his thoughts on uranium and some stocks he believes are Buys.
When you hear NEWS LIKE THIS that an always-functional part of the infamous Three Mile Island nuclear power plant is slated to be restarted by Constellation Energy Group CEG — with tech giant Microsoft its sole dedicated customer for the next 20 years — you know that uranium/nuclear power is BACK!
We have known that for a while, of course. For a fair stretch over the last few years, in fact, our recommendations in this space represented our greatest sector exposure, and we profited nicely as a result.
Having pared back our ETF exposure most notably a while back to long in some gains ahead of the sector's months-long consolidation, I've watched as the news has continued to point to uranium being in the early innings of this new bull market. Yet the markets have been yawning . . . until now.
As I wrote to you in yesterday's commentary, I am of a mind that it's time we build back up an outsized exposure to the uranium/nuclear power space. I'll be sharing more details (and updating our specific holdings here) in the coming week; but for now, I'm advising the following:
- Bump back up exposure to the Sprott Physical Uranium Trust SRUUF to 6% of your portfolio (from 4% late.) It is rated a Buy.
- Maintain the present 4% (Growth) and 3% (Conservative) weighting to the Sprott Uranium Miners ETF URNM. It is rated Accumulate.
- Establish a new position in the Sprott Junior Uranium Miners ETF URNJ equal to 3% of your portfolio in a Growth account and 2% in a Conservative one. It is likewise rated an Accumulate.
Lastly, Uranium Energy Corp. UEC and Energy Fuels Inc. UUUU are each upgraded back to Buy on the strength of the recent news I have been sharing with you.
Important Disclosures:
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Uranium Energy Corp.
- Chris Temple: I determined which companies would be included in this article based on my research and understanding of the sector.
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