End of the Year: Let’s Look at Taxes, Metals and Energy

Market Overview - The year 2025 has seen significant gains in precious metals, with gold, silver, and platinum increasing by 53%, 61%, and 62% respectively [7] - Many mining companies have also experienced substantial growth, such as Newmont Mining (NEM) up about 135% and Hecla Mining (HL) up nearly 190% [10] Tax Loss Selling - The year-end "tax loss" selling season occurs in November and December, where investors sell underperforming shares to offset gains and minimize taxes [5] - Notable examples of companies facing sell-offs include Cracker Barrel Old Country Store, Inc. (CBRL) down about 48% and United Parcel Service, Inc. (UPS) down over 26% [6] Energy Sector Insights - The energy sector, particularly uranium, is viewed as undervalued despite its essential role in the global economy [17] - The U.S. produces only about 2% of its uranium, relying heavily on imports, with a significant portion expected to shift to China in the coming years [19][20] - Major uranium companies like Cameco (CCJ), Uranium Energy Corp. (UEC), and Energy Fuels (UUUU) are considered solid investments for the medium to long term [21] Oil and Gas Market Dynamics - The global oil industry is facing a significant underinvestment of at least $1 billion per day, leading to concerns about future supply [23] - Companies like ExxonMobil (XOM) and Chevron (CVX) are positioned well due to their scale, cash flow, and technical expertise [24] - The VanEck Oil Services ETF (OIH) is recommended for exposure to the oil services sector, alongside individual stocks like Schlumberger (SLB) and Halliburton (HAL) [25][26] Natural Gas Outlook - The United States Natural Gas Fund, LP (UNG) is currently trading near a five-year low, with expectations for price increases as winter approaches and demand rises [30] - Long-term trends indicate a tightening natural gas market due to rising domestic and export demand, compounded by historical underinvestment [31]