S&P/ASX 300 Index (ASX: XKO) uranium share Bannerman Energy Ltd (ASX: BMN) has made some very happy investors over the past year.
How happy?
Well, a year ago, you could have picked up Bannerman Energy shares for $2.24. At Friday's close, those shares were changing hands for $4.21 each. That sees the ASX 300 uranium share up a very impressive 87.95% over 12 months.
For context, the ASX 300 has gained 9.52% over the same period.
But if you think the ship has sailed on the potential outsized gains from the Aussie uranium company, you might want to have another look.
That's according to Fairmont Equities' Michael Gable, who expects the stars are aligning to deliver more outperformance from Bannerman Energy shares (courtesy of The Bull).
Image source: Getty Images
Should you buy the ASX 300 uranium share today?
"Bannerman is a uranium development company," said Gable, who has a buy recommendation on the ASX 300 uranium share. "Its flagship Etango project is based in Namibia."
One of the reasons for Gable's bullish outlook on Bannerman Energy shares is the potential looming shortfall in global uranium supplies.
"The uranium sector continues to appeal because demand should continue to outpace supply for the next several years," he said.
Indeed, in Shaw and Partners' new Uranium Super-Cycle report, the broker said it expects that structural supply deficits, accelerating nuclear demand, and tightening fuel contracting cycles will see the uranium spot price hit US$175 per pound in 2027. Uranium was trading for around US$88 per pound this past week.
Fairmont Equities Gable is also encouraged by Bannerman's JV deal with the China National Nuclear Corporation.
According to Gable:
The company recently announced a joint venture with the China National Nuclear Corporation. The deal de-risks the Etango project and reduces funding risk involving development. BMN is exposed to potential upside in uranium prices. The shares have risen from $2.35 on August 20, 2025 to trade at $4.50 on February 26, 2026.
The ASX 300 uranium share announced its JV deal on 13 February.
Commenting on the JV Etango funding deal on the day, Bannerman Energy executive chairman Brandon Munro said:
By enabling the debt-free construction of Etango, this solution maximises flexibility and dramatically derisks the construction and ramp-up phases of project execution.
It also delivers us a Tier-1 cornerstone offtake partner on genuine and market terms, ensuring Bannerman remains strongly exposed to future uranium price upside potential.
