One of the weaker performers in the portfolio was uranium producer, Cameco (CCJ, Financial), which declined 7.7% as the company reported below expectation sales volumes. The commodity price environment remains challenging given slower reactor restarts and elevated global inventories impacting the supply and demand outlook. We trimmed our position over the fourth quarter in favour of more attractive opportunities.
From Leith Wheeler Funds' fourth-quarter 2019 quarterly review.
