"There's no such thing as a sure thing ... but the closest I've ever seen in all the years I've been doing this — which is 38 — is the uranium market right now," he said.
Peter Grandich: There's No Such Thing as a Sure Thing — but Uranium is Closeyoutu.be
There's no such thing as a sure thing. But for Peter Grandich of Peter Grandich & Co., uranium comes close.
Speaking to the Investing News Network, he explained that the outlook for uranium has done a 180 in the last five years or so and is gaining momentum on what seems like a daily basis.
Demand for clean energy is strengthening, and years of low prices have weakened supply. Aside from that, Grandich pointed out that it's becoming harder to find jurisdictions that are hospitable to mining.
In his view, sector major Cameco (TSX:CCJ,NYSE:CCO) is the obvious place to look when it comes to stocks.
"To me, Cameco is like Apple (NASDAQ:AAPL) to the technology industry. If you're going to love uranium, Cameco is absolutely first," Grandich said, noting that the long bear market has reduced the number of players in the space.
As the uranium story continues to gain traction, he emphasized the importance of not getting too caught up in day-to-day news, saying that sometimes seeing many positive announcements can make investors antsy.
"I think we're getting set up for good movements in uranium, but patience is a virtue," Grandich explained.
"And remember, up until now the negativity in the stock market has been a damper. But eventually they're going to separate — people are going to realize how critical uranium becomes through this next winter ... and no matter what the general market is doing, I think the uranium stocks are going to be able to separate themselves."
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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