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:NYSE) — 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:OTCMKTS) 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::NYSE ARCA). It is rated Accumulate.
- Establish a new position in the Sprott Junior Uranium Miners ETF (URNJ:NASDAQ) 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:NYSE AMERICAN) and Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) are each upgraded back to Buy on the strength of the recent news I have been sharing with you.
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