Boss Energy Ltd (ASX: BOE) recently released solid profit results and a new mining plan for its Honeymoon uranium operations in South Australia, but brokers are divided on the company's future prospects.
Two of the brokers who released research reports on the company this week have buy recommendations on the stock, while one has a neutral rating.
I'll get to the specifics of the share price targets they are forecasting shortly.
First, let's have a look at what the company released.
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A welcome return to profits
Boss recorded a net profit of $2.5 million for FY26, which was a $36.7 million improvement from the previous year.
Revenue doubled to $151.1 million, with the company paying an average realised price of US$74.4 per pound of uranium.
The company provided guidance for production of 1.25 to 1.3 million pounds of uranium in the current year, which the brokers said was below expectations.
The company said:
The production and cost profile reflects the mine-development uncertainty experienced since July 2025 and Boss' disciplined decision to limit further investment in legacy wellfields, where the expected returns did not justify additional capital. This approach has preserved balance sheet strength while enabling continued investment in plant infrastructure and new value-accretive wellfields, to support the expected production ramp-up.
Boss also released a new feasibility study that envisages a wider-spaced well design for its in-situ leach mine and is forecast to keep the mine operating until at least FY34.
The company said its costs would decrease as a result, reflecting an increase in uranium concentration in the leach solution.
Brokers divided on the outlook for Boss Energy shares
The Canaccord Genuity team said they had factored in two further deposits, Jason's and Gould's Dam, into their valuation of the company, which they see providing options for mining from 2035.
They have reduced their price target on the company from $2.50 to $2, but that's still well above the current price of $1.50.
Macquarie said the new mine design provided a credible pathway to production and the "wide spaced wellfield design appears likely to be quite effective in reducing costs given 50% less infrastructure and 28% higher … grades''.
The broker said the market may have focused too much on FY27 guidance in selling off the stock, and "Honeymoon value will be better demonstrated when fully ramped at 1.9Mlb/yr''.
Macquarie has a $1.80 price target on the company.
Meanwhile, UBS has a neutral rating on the stock and a price target of $1.50.
UBS said it was not factoring the other deposits into its valuation at this stage.
Boss Energy is valued at $753.5 million.
