1. Exit Case: Cameco Corporation 

Overview:

Cameco Corporation (TSX: CCO) is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.

CCO has been a part of the ‘Growth Portfolio’ since 23 April 2024, however, considering decent rally in the share price of the stock, an ‘Exit’ is recommended from the stock at the price of CAD 64.11, (as on 5^th May 2025).  

1.1 Support and Resistance Summary as provided in our last published report dated 23 April 2024.

Cameco Corporation (TSX: CCO) 

2. New Entry Case: Elemental Altus Royalties Corp. 

Overview:  

Elemental Altus Royalties Corp. (TSXV: ELE)  is a gold mining, development and exploration firm. The company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako's primary objective is to bring San Albino into production quickly and efficiently while continuing the exploration of prospective targets in Nicaragua.

Technical Analysis: On the daily chart, ELE prices are trading above a support, indicating positive momentum. The 14-period Relative Strength Index (RSI) stands at approximately 56.40, reflecting a buying interest. Additionally, prices are positioned above the 20-period Simple Moving Average (SMA), which could serve as a support level. The key support for stock is at CAD 1.21, while the critical resistance level is at CAD 1.60.

Considering the above mentioned factors, technical analysis, support & resistance levels, an ‘Entry’ is recommended in the ‘Growth Portfolio’ at the closing market price of CAD 1.44, as on (as on 5^th May 2025). 

2.1 Support and Resistance Summary (as on 5^th May 2025)

2.2 Elemental Altus Royalties Corp. (TSXV: ELE)

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of 5^th May 2025). The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.