Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.</li>
<li>There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.</li>
<li>There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.</li>
</ul>


Based on prices and turnover from 10 July, there could be one deletion from the index in July. Plus there will be capping and float changes.
There are four stocks that meet the inclusion criteria but all are non-pure play companies and the index is already at the limit of 15 non-pure play companies.
There will be a large impact on a lot of stocks but the flows are not very large due to the limited assets tracking the index.


Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

Equity Bottom-Up

<ul>
<li>Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price.</li>
<li>The company's financial results improved in 2022, it has secured a record number of supply contracts.</li>
<li>The momentum anomaly is set to play its hand, but the stock still possesses valuation concerns, according to the company.</li>
</ul>


Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price.
The company's financial results improved in 2022, it has secured a record number of supply contracts.
The momentum anomaly is set to play its hand, but the stock still possesses valuation concerns, according to the company.


Cameco: The Tide Has Turned, Bet On Momentum

<ul>
<li>Plans are being made to reroute Inkai's production to avoid Russian infrastructure and port reliance.</li>
<li>The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.</li>
<li>Uranium prices remain supportive, and an operational pivot could realign Cameco stock's valuation.</li>
</ul>


Plans are being made to reroute Inkai's production to avoid Russian infrastructure and port reliance.
The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.
Uranium prices remain supportive, and an operational pivot could realign Cameco stock's valuation.


Materials Analyst/Strategist, Janus Analysis

Gaius King

Materials Analyst/Strategist

Accelerating Tomorrow’s Independent Research

Boost Research

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<ul>
<li>Uranium Price has fallen 7% over the past two months</li>
<li>Actively looking for uranium short positions</li>
<li>Provide summarised watch list</li>
<li>Wisdom from Samuel Longhorne Clemens</li>
<li>
<a href="https://www.smartkarma.com/entities/27844" target="_blank" data-smartkarma-citation="entities:27844:1">Yellow Cake PLC (YCA LN)</a>, <a href="https://www.smartkarma.com/entities/17078" target="_blank" data-smartkarma-citation="entities:17078:1">Berkeley Energy (BKY AU)</a>, <a href="https://www.smartkarma.com/entities/25364" target="_blank" data-smartkarma-citation="entities:25364:1">Cameco Corp (CCO CN)</a>, <a href="https://www.smartkarma.com/entities/27734" target="_blank" data-smartkarma-citation="entities:27734:1">Kazatomprom Natsionalnaya At (KZAP KZ)</a>, <a href="https://www.smartkarma.com/entities/28004" target="_blank" data-smartkarma-citation="entities:28004:1">Jangada Mines PLC (JAN LN)</a>, <a href="https://www.smartkarma.com/entities/28005" target="_blank" data-smartkarma-citation="entities:28005:1">Europa Metals Ltd (EUZ LN)</a>, <a href="https://www.smartkarma.com/entities/10708" target="_blank" data-smartkarma-citation="entities:10708:1">Buxton Resources (BUX AU)</a>, <a href="https://www.smartkarma.com/entities/2564" target="_blank" data-smartkarma-citation="entities:2564:1">Musgrave Minerals (MGV AU)</a>, <a href="https://www.smartkarma.com/entities/18292" target="_blank" data-smartkarma-citation="entities:18292:1">Myanmar Metals (MYL AU)</a>, <a href="https://www.smartkarma.com/entities/13112" target="_blank" data-smartkarma-citation="entities:13112:1">Archer Exploration (AXE AU)</a>, <a href="https://www.smartkarma.com/entities/15927" target="_blank" data-smartkarma-citation="entities:15927:1">Canyon Resources (CAY AU)</a>, <a href="https://www.smartkarma.com/entities/4293" target="_blank" data-smartkarma-citation="entities:4293:1">Catalyst Metals (CYL AU)</a>, <a href="https://www.smartkarma.com/entities/14712" target="_blank" data-smartkarma-citation="entities:14712:1">Core Exploration (CXO AU)</a>, Exore Resources (ASX: ERX), <a href="https://www.smartkarma.com/entities/20213" target="_blank" data-smartkarma-citation="entities:20213:1">Stavely Minerals (SVY AU)</a>, <a href="https://www.smartkarma.com/entities/28006" target="_blank" data-smartkarma-citation="entities:28006:1">Tietto Minerals Ltd (TIE AU)</a>, <a href="https://www.smartkarma.com/entities/28007" target="_blank" data-smartkarma-citation="entities:28007:1">Horizonte Minerals PLC (HZM LN)</a>, Bellevue Gold (ASX: BGL), <a href="https://www.smartkarma.com/entities/14443" target="_blank" data-smartkarma-citation="entities:14443:1">Allegiance Coal (AHQ AU)</a>, First Au (ASX: FAU), <a href="https://www.smartkarma.com/entities/3189" target="_blank" data-smartkarma-citation="entities:3189:1">Base Resources (BSE AU)</a>, <a href="https://www.smartkarma.com/entities/19210" target="_blank" data-smartkarma-citation="entities:19210:1">Breaker Resources Nl (BRB AU)</a>  </li>
</ul>


Uranium Price has fallen 7% over the past two months
Actively looking for uranium short positions
Provide summarised watch list
Wisdom from Samuel Longhorne Clemens

Yellow Cake PLC (YCA LN), Berkeley Energy (BKY AU), Cameco Corp (CCO CN), Kazatomprom Natsionalnaya At (KZAP KZ), Jangada Mines PLC (JAN LN), Europa Metals Ltd (EUZ LN), Buxton Resources (BUX AU), Musgrave Minerals (MGV AU), Myanmar Metals (MYL AU), Archer Exploration (AXE AU), Canyon Resources (CAY AU), Catalyst Metals (CYL AU), Core Exploration (CXO AU), Exore Resources (ASX: ERX), Stavely Minerals (SVY AU), Tietto Minerals Ltd (TIE AU), Horizonte Minerals PLC (HZM LN), Bellevue Gold (ASX: BGL), Allegiance Coal (AHQ AU), First Au (ASX: FAU), Base Resources (BSE AU), Breaker Resources Nl (BRB AU)  


New J Hutton – Exploration Report (Weeks Ending 22/03/19)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/27844" target="_blank" data-smartkarma-citation="entities:27844:1">Yellow Cake PLC (YCA LN)</a> is a pure play on the uranium price</li>
<li>Spot Price $28.90/lb U3O8 &amp; L.T. Price remains $32/lb U3O8
</li>
<li>Share price trading at ~2% discount to NPV</li>
<li>Despite recent production cuts, primary &amp; secondary supplies cover world demand</li>
<li>Est. surplus ~500ktU, representing six years of global primary production</li>
<li>Global nuclear generation peaked in 2006</li>
<li>Forecast world uranium demand to decline between 25% and 40% by 2050</li>
<li>
1-year Target Price £1.98-2.02 ps NPV4% assuming $24/lb U3O8
</li>
<li>
3-year Target Price £1.57-1.77 ps NPV4% assuming $21/lb U3O</li>
</ul>



Yellow Cake PLC (YCA LN) is a pure play on the uranium price
Spot Price $28.90/lb U3O8 &amp; L.T. Price remains $32/lb U3O8

Share price trading at ~2% discount to NPV
Despite recent production cuts, primary &amp; secondary supplies cover world demand
Est. surplus ~500ktU, representing six years of global primary production
Global nuclear generation peaked in 2006
Forecast world uranium demand to decline between 25% and 40% by 2050

1-year Target Price £1.98-2.02 ps NPV4% assuming $24/lb U3O8


3-year Target Price £1.57-1.77 ps NPV4% assuming $21/lb U3O


Yellow Cake (YCA) - Great Idea, Wrong Time!

Canada

Cameco Corporation explores, develops, mines, refines, converts, and fabricates uranium. The Company offers uranium for sale as fuel for generating electricity in nuclear power reactors. Cameco operates worldwide.

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Cameco Corp (CCO CN)

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Potential Changes

There could be 1 deletion for the index in July. There could be up to 3 inclusions if they are classified as pure-play companies. Impact is large...

Brian Freitas

Cameco: The Tide Has Turned, Bet On Momentum

Cameco Corporation is in the middle of a substantial turnaround, which investors could soon price. The company's financial results improved in...

Pearl Gray Equity and Research

Cameco: A Turnaround Is En Route

The firm's joint acquisition of equipment supplier, Westinghouse, might add valuable cost synergies and improve Cameco's economies of scope.

Pearl Gray Equity and Research

New J Hutton – Exploration Report (Weeks Ending 22/03/19)

Uranium Price has fallen 7% over the past two months Actively looking for uranium short positions Provide summarised watch list Wisdom from Samuel...

Boost Research

Yellow Cake (YCA) - Great Idea, Wrong Time!

Yellow Cake PLC (YCA LN) is a pure play on the uranium price Spot Price $28.90/lb U3O8 & L.T. Price remains $32/lb U3O8 Share price trading...

Boost Research

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