Korelin Economics Report

Nick Hodge – Portfolio Positioning With The Gold Breakout, Copper Stocks, and Uranium Stocks

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us to review how he is positioning in his portfolio with the breakout in gold and gold stocks, an improving macro outlook in the copper stocks, and remaining bullish on the uranium stocks.

 

We start off reviewing some of the macroeconomic drivers behind the recent technical pricing breakout in gold, where it is looking to be more sustainable.  With regards to the gold stocks he’s in GDXJ for exposure to the producers, and with the developers and advanced explorers, he outlines that many of them are still far undervalued for their defined ounces in the ground; pointing to Banyan Gold (BYN.V) and Contango Ore (CTGO) as 2 of them in his portfolio. So despite the recent pop in many gold stocks, there is still a lot of room for them to continue rerating higher and he cautions investors not to sell too early.   We also discuss this recent move higher in the precious metals complex, in tandem with a break higher in the US general equity markets and the cryptocurrencies.   Nick points out that the bitcoin crowds and gold crowds have a lot of overlap in a desire for hard assets and it doesn’t need to be an either or trade; believing longer term both sets of investors will find reasons to hold both asset classes.

 

Next we get Nick’s outlook for how the copper sector will continue to evolve, balancing out the medium-term fundamentals on economic growth from the US, China, and global economies, and an improving anticipated supply/demand backdrop for investors.  He reviews that for exposure to the larger copper producers he is positioned in the IShares Copper And Metals Mining EFT (ICOP).  For the juniors he remains positioned in Hannan Metals (HAN.V) (HANNF) and Gladiator Metals (GLAD.TO) (GDTRF); but is also considering position trading some of the more liquid names in the space like Filo Corp. (FIL.TO) (FLMMF) when he sees the right kinds of medium-term or short-term setups.

 

Wrapping up with get Nick’s thoughts on why he remains a buyer on dips in the uranium sector, pointing out the sector still is in a longer term bull market fundamentally.  He noted getting positioned recently in CanAlaska Uranium (CVV.V), after an impressive high-grade drill intercept, and still remains bullish on existing positions mentioned before in Energy Fuels (UUUU) (EFR.TO) and enCore Energy (EU) (EU.V).

 

 

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https://digestpublishing.com/publications/

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