If I'd invested $20,000 in Boss Energy shares one month ago here's what I'd have today

Uranium is so hot right now, and you would have made some handy cash if you were invested in this miner the last 31 days.

| More on:
Businessman smiles with arms outstretched after receiving good news.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At The Motley Fool, we're all about long-term investing.

However, it's fun to see how certain stocks rocket overnight from time to time.

It demonstrates how a massive winner can carry your portfolio, even if your other stocks are growing at a pedestrian rate.

Pocketing $5,800 in just one month

Take Boss Energy Ltd (ASX: BOE), for example.

The uranium producer has ridden a boom in the nuclear fuel sector, with the stock price soaring more than 29% over the past month.

So if you bought $20,000 of Boss Energy shares a month ago, they would now be worth $25,800.

That's a $5,800 profit in just 31 days!

Over the past year, the Boss share price has gained an amazing 137%.

That's more than double in just 12 months.

Sure beats a term deposit.

Plenty more upside for Boss Energy shares

Many professional investors are bullish on uranium and ASX uranium shares at the moment.

A stunning announcement recently from the world's biggest miner of the nuclear fuel certainly helped.

Kazakhstan's National Atomic Company Kazatomprom Joint Stock Company (FRA: 0ZQ) last weekend downgraded its 2024 production forecasts because of a shortage in the supply of sulphuric acid.

Sulphuric acid is an essential ingredient in the processing of uranium.

Former earth sciences researcher and current analyst John Quakes said on X that the news was a rock thrown into waters of the global nuclear sector.

"And now we watch the ripples spread across the world.

"Every other producer, trader and nuclear utility affected by the 'potential' for missed deliveries will now be actively seeking out spot lbs to hedge against that possible outcome, which will then translate into far higher spot U3O8 prices as a bidding war erupts."

According to CMC Invest, five out of the six analysts that currently study Boss Energy shares rate them as a strong buy.

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Energy Shares

Woman refuelling the gas tank at fuel pump, symbolising the Ampol share price.
Energy Shares

Why is the Ampol share price tumbling 5% on Friday?

The Ampol share price is taking a big fall on Friday.

Read more »

A woman wearing a hard hat holds two sparking wires together as energy surges between them. representing the rising Li-S Energy share price today
Energy Shares

2 ASX energy shares to supercharge your returns

Analysts are tipping big returns from these energy stocks.

Read more »

Two workers at an oil rig discuss operations.
Earnings Results

2 ASX energy shares going gangbusters on today's earnings results

The ASX energy shares are drawing investor interest today after releasing their half-year earnings results.

Read more »

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Energy Shares

Bell Potter just upgraded this ASX uranium stock

The broker believes recent weakness has created a buying opportunity.

Read more »

An oil worker in front of a pumpjack using a tablet PC.
Dividend Investing

Here's everything you need to know about the Woodside dividend

This energy giant is rewarding shareholders with a big dividend again this year.

Read more »

A smiling woman puts fuel into her car at a petrol pump.
Dividend Investing

Looking to bank the record Ampol dividend? Time is running out!

Ampol declared an all-time high final dividend when the ASX 200 energy company reported its full-year results on Monday.

Read more »

Worker at a gas and oil pipeline.
Energy Shares

Woodside share price rises despite 74% decline in FY23 profits

How did this energy giant perform in FY 2023?

Read more »

Worker at a gas and oil pipeline.
Energy Shares

Woodside shares rise on $2.1 billion sale and partnership

Woodside has struck a deal with JERA. Here's what you need to know.

Read more »