There are plenty of options on the Australian share market for investors that want exposure to the uranium industry.
But which ASX uranium stocks are in the buy zone now?
Let's take a look at three that Bell Potter rates as buys:
Boss Energy Ltd (ASX: BOE)
Bell Potter rates this beaten down ASX uranium stock as a buy with a $1.95 price target.
The broker feels that the market is being too negative on the uranium producer following its recent production update. Especially given how it could become a takeover target at current levels. It said:
We believe the stock is bubbling along the bottom of its trading range at the moment, creating an asymmetric risk profile should the review pan out positively. Alternatively, BOE may become a takeover target at current levels, with global uranium producer Orano seeking to diversify exposure from Niger and having experience in operating ISR projects in Kazakhstan.
Paladin Energy Ltd (ASX: PDN)
Another ASX uranium stock that Bell Potter is positive on is Paladin Energy. The broker has a buy rating and $12.50 on its shares.
Bell Potter thinks the market is overlooking its Patterson Lakes South project. It explains:
PDN is entering a period of relative stability, with rising uranium spot and term prices. As LHM production steadies, the market should gain comfort around performance. We believe the market is ascribing very little value to Patterson Lakes South (PLS), which provides upside as the project is de-risked. EPS changes in this report are: FY26 -69%, FY27 -29% and FY28 -6%
Lotus Resources Ltd (ASX: LOT)
Finally, Bell Potter has a buy rating and 30 cents price target on this ASX uranium stock.
While the broker acknowledges that uranium restarts have been troublesome in recent years, Lotus has been doing well so far. And if this continues, it thinks it would be due a significant re-rating. It said:
If we have learnt anything about Uranium project restarts in the past 3-years, it's that anything that can go wrong, generally will. In the case of LOT, whilst we accept there may be teething issues, so far the business appears to be doing well. Our concerns around the cash conversion cycle remain. However, with A$74m in cash as of Nov-25 we anticipate the business can manage through this period. Should LOT make it through the next 6 months of operations unscathed, and buck the trend for Uranium restarts, we believe the market will warrant a re-rate in the business.
