Boss Energy Ltd (ASX: BOE) shares have enjoyed a tremendous run over the past month.
How tremendous?
Well, on 7 April, the S&P/ASX 200 Index (ASX: XJO) uranium stock closed the day trading for $2.10.
At market close yesterday, those same shares were changing hands for $3.98 apiece.
That sees Boss Energy shares up a whopping 89.52% in a month.
Or enough to turn a $5,000 investment into $9,476. In just over four weeks.
That will come as great news to faithful shareholders. Though not to the cadre of short-sellers betting against the uranium producer and hoping to book a profit if its share price falls.
Indeed, Boss Energy stock is the most shorted on the ASX this week, with short interest standing at 25.6% on Monday. Remarkably, that's down slightly from the short interest the previous week.
Here's how the ASX 200 uranium stock has been making those punters, well, eat their shorts.
Image source: Getty Images
What's sending Boss Energy shares rocketing?
Among other tailwinds, Boss Energy shares have enjoyed a lift from a rebound in slumping uranium prices.
In early April, uranium was trading for US$64 per pound. On Thursday, the nuclear fuel was fetching just over US$70 per pound, up around 9% in a month. Though that's still well down from the US$93 per pound uranium was commanding this time last year.
Then there's the Trump tariffs.
Rather than dragging on the company, Boss Energy looks to be benefiting. At the Macquarie Australia Conference on Wednesday, the miner highlighted that uranium is exempt from US tariffs.
Boss Energy shares closed up 12.4% on the day.
Management also noted that there are currently 65 nuclear reactors under construction around the world. That's the highest level since 1990.
And Boss said it is well-placed to take advantage of rising uranium demand amid lower-than-expected global supply increases.
Over the March 2025 quarter, the ASX 200 miner drummed 295,819 pounds of uranium, up 116% from the December quarter. And the company's ion exchange (IX) uranium production increased by 15% quarter on quarter to 246,869 pounds.
This saw Boss Energy's Honeymoon Project, located in South Australia, report its first quarter of positive free cash flow.
Management also reaffirmed full-year FY 2025 production guidance of 850,000 pounds of uranium.
As at 31 March, the uranium miner held $229 million in cash and liquid assets.
Despite the blistering rally of the past month, Boss Energy shares are down 28% since this time last year.
