Share prices are moving all the time, giving investors the chance to buy ASX shares at cheap prices if they jump at the opportunity.
Analysts look across the ASX stock market for ideas, so it's intriguing when one of those experts labels a business a buy. It may be particularly compelling when numerous analysts call a business a buy.
Let's look at two of the most heavily-backed ASX shares right now.
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Paladin Energy Ltd (ASX: PDN)
Paladin is a sizeable uranium producer, with 75% ownership of the large Langer Heinrich Mine (LHM), which is in Namibia. It also owns exploration and development assets in Canada and Australia.
According to CMC Invest, there have been 13 analyst ratings on the business within the last three months – nine were buy, two were hold, and two were sell.
At the time of writing, the average price target from those 13 analysts was $12.68, suggesting a possible rise of around 30% over the next 12 months from where it is at the time of writing.
The business recently released its FY26 fourth quarter update for the period ending June 2026. Uranium production was 12.3 million pounds for the quarter and 4.82 million pounds for the 2026 financial year. That compares to guidance of between 4.5 million pounds and 4.8 million pounds.
The average realised price was US$70.6 per pound, while the cost of production was US$51.6 per pound.
Paladin Energy also noted in that update that the LHM ramp-up has been successfully completed.
Bellevue Gold Ltd (ASX: BGL)
The other ASX I'll highlight in this article is Bellevue, an ASX gold share. The Bellevue gold project is one of the world's largest gold discoveries and the highest-grade gold development project in Australia.
The project is located 40km to the north-west of Leinster in the Goldfields region of Western Australia.
According to CMC Invest, there have been seven ratings on the business within the last three months. Of those seven ratings, six were buys, and one was a hold.
Among those seven experts, the average price target is $1.89 – that implies a possible rise of close to 50% over the next year from its current level.
The business recently announced its quarterly update for the three months to June 2026. It revealed 41,643 ounces of gold produced. Annual production was around 144,000 ounces, which was above the midpoint of its guidance range.
Bellevue reported strong underlying free cash flow, before voluntary future hedge book pre-deliveries, of around $110 million. Cash and gold inventory rose to $206.4 million at the end of the quarter.
