The broker has this week published a research report naming its top picks in the sector and share price targets for each, which we'll get to shortly.

First, let's see what they're saying about the sector overall.

Energy security driving uranium demand

To start with, Shaw and Partners said there is a divergence between company share prices and the improving uranium price.

They said:

The Global X Uranium ETF is down 31% over the past three months and has given back the gains in Jan/Feb to be down 9% in CY26. That is despite the long term uranium price improving to US$95.5 per pound – a record high, and with strong momentum to move higher. We view the pullback as an excellent buying opportunity.

Shaw and Partners said the drivers behind the strong uranium price continued to strengthen.

They said:

Nuclear energy has returned to favour with governments focused on energy security and decarbonisation. The conflict in the Middle East adds additional focus on energy security. On top of that, demand for clean, baseload energy for data centres and AI will add further demand for nuclear power. The US, China and India have all set ambitious targets to expand their nuclear industries. There are now 38 countries pledged to triple nuclear energy by 2050.

The broker said the World Nuclear Association estimates there are currently 372 gigawatts of nuclear capacity online; however, this is expected to grow to 686 gigawatts by 2040.

They added:

Existing mine production is only about 150Mlb of U3O8, so we need to add ~240Mlb of new mine supply in the next 14 years. When you consider depletion of existing mines, the required new supply is more likely to be >350Mlb. It is difficult to see where more than 150Mlb of that supply will come from. Sovereign strategic buyers have recognised the urgency to lock in nuclear fuel supply next decade. India and China are leading the way, and we expect to the US follow suit.

Massive share price upside for ASX uranium companies tipped

In terms of the Australian companies they like, they are: NexGen Energy Ltd (ASX: NXG) with a price target of $24.80, Paladin Energy Ltd (ASX: PDN) with a price target of $19.10, Silex Systems Ltd (ASX: SLX) with a price target of $14.30, Bannerman Energy Ltd (ASX: BMN) with a price target of $7.60, Boss Energy Ltd (ASX: BOE) with a price target of $3.08, Peninsula Energy Ltd (ASX: PEN) with a price target of 81 cents, and Atomic Eagle Ltd (ASX: AUE) with a price target of $1.70.

The post 7 ASX uranium stocks one broker says have massive upside appeared first on The Motley Fool Australia.

On 23 April, Bannerman shares closed trading for $4.74. Earlier this week, shares were changing hands for $3.14 apiece, putting the share price down 33.7% in just over two months.

While that's been a painful slide for existing shareholders, Fairmont Equities' Michael Gable believes this the retrace now presents an opportunity to buy Bannerman shares at a long-term bargain price (courtesy of The Bull).

Should I buy the ASX 300 uranium stock today?

"This uranium development company's flagship Etango project is based in Namibia," Gable said.

Citing the first reason you might want to buy Bannerman Energy shares today, he noted, "We believe the uranium sector presents a bright outlook as we expect demand to outpace supply for the next several years."

Then there's the recent joint venture agreement the ASX 300 uranium stock inked with the China National Nuclear Corporation, first announced to the market 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.

Gable pointed out that the market doesn't appear to be pricing in the benefits of the JV deal. He noted:

Despite BMN de-risking its main resource by announcing a joint venture with the China National Nuclear Corporation, the share price has retreated along with many other stocks in the market.

Which brings us to the third reason Gable has a buy recommendation on Bannerman Energy shares.

"In our view, this presents a buying opportunity as BMN should be leveraged to any upside in the uranium price," he concluded.

What's the latest from Bannerman Energy?

Bannerman released its March quarter update on 29 April.

Commenting on the progress being made at Etango, Bannerman CEO Gavin Chamberlain said:

Bannerman continued to progress Etango's early works program during the March 2026 quarter, with key construction activities, detailed design and procurement advancing in line with schedule and budget.

The ASX 300 uranium stock reported that its site contractor workforce numbered more than 560 personnel at the quarter end, and the project's bulk earthworks contract was 66.5% complete.

Turning to the balance sheet, as at 31 March, Bannerman Energy had a cash balance of $69.9 million and liquid assets of $12.7 million.

The post 3 reasons to buy this beaten down ASX 300 uranium stock today appeared first on The Motley Fool Australia.

Meanwhile, on The Bull, two experts share their insights on three ASX shares. 

Let's review. 

Bannerman Energy Ltd (ASX: BMN)

The Bannerman Energy share price is $3.22, down 0.9% today and down 2.4% over 12 months. 

Michael Gable from Fairmont Equities has a buy rating on this ASX energy share. 

Gable said: 

This uranium development company's flagship Etango project is based in Namibia. We believe the uranium sector presents a bright outlook as we expect demand to outpace supply for the next several years.

Despite BMN de-risking its main resource by announcing a joint venture with the China National Nuclear Corporation, the share price has retreated along with many other stocks in the market.

In our view, this presents a buying opportunity as BMN should be leveraged to any upside in the uranium price.

Saluda Medical Inc (ASX: SLD)

The Saluda Medical share price is steady at 48 cents on Thursday, and down 62% over 12 months. 

Stuart Bromley from Medallion Financial Group has a hold rating on this ASX healthcare share. 

Bromley said: 

SLD is a commercial stage medical device company targeting the global chronic pain market with its Evoke spinal cord stimulation platform.

While commercial execution and adoption remain key milestones to monitor, we continue to believe the company's differentiated technology and growing clinical evidence base support a favourable long term outlook.

Global revenue grew by 34 per cent in the third quarter of fiscal year 2026 when compared to the prior corresponding period.

The company expects full year revenue growth of 24 per cent on the prior corresponding period.

Bapcor Ltd (ASX: BAP)

The Bapcor share price is 42 cents, down 2.3% today and down 89% over 12 months. 

Bromley has a sell rating on this ASX consumer discretionary share.

He explains: 

Bapcor is an aftermarket automotive parts provider in Australia and New Zealand. It operates the Autobarn, Burson and Autopro brands.

While Bapcor remains a leading participant in its sector, the company continues to face operational challenges, margin pressure and an increasingly difficult consumer environment.

We believe management still has significant work ahead to restore earnings momentum and investor confidence.

Given the availability of alternative opportunities with stronger earnings visibility and growth prospects, we believe capital can be deployed more effectively elsewhere at this time.

The stock has fallen from $5.14 on July 14, 2025 to trade at 40.7 cents on June 25, 2026.

The post Buy, hold, sell: Bannerman Energy, Saluda Medical, Bapcor shares appeared first on The Motley Fool Australia.

And for one, as you'll soon see, that share price target could be just the beginning.

Let's have a look at what they're saying. 

Atomic Eagle Ltd (ASX: AEU)

This company's main focus at the moment is the Muntanga uranium project in Zambia.

Atomic Eagle released the results of a feasibility study into the project in March, which outlined a US$282 million, 2.2 million pound per year open-pit mining operation with a 12-year mine life.

Shaw and Partners said the company kicked off a 30,000m drilling program at Muntanga in April, which was "the most significant exploration campaign at Muntanga in nearly 20 years''.

They added:

The objective is to double the current 58.8Mlb resource to underpin a significantly larger 4–5Mlbpa development scenario that would materially improve project economics through economies of scale.

Shaw and Partners said further drilling results at the Chisebuka target showed that it could be as large as 15 million pounds, "which would make it a handy satellite deposit to the main Muntanga and Dibbwi East deposits''.

And while Muntanga is the main game at the moment, the company also owns the Madaouela deposit in Niger, which hosts about 120 million pounds of uranium at an average grade of 1,400ppm, "making it one of the highest-grade undeveloped uranium deposits globally". 

Shaw and Partners added:

We currently have zero value for Madaouela in our $1.40 Atomic Eagle valuation, but if Atomic Eagle successfully negotiates a return of the project, then it could result in a substantial uplift in our valuation.

Atomic Eagle shares are changing hands for 42.5 cents at the time of writing.

Bannerman Energy Ltd (ASX: BMN)

This uranium company recently released an update about construction works at its Etango uranium project in Namibia. 

Shaw and Partners said the early works were tracking to budget and on schedule.

They added: 

Etango is on-track to be in production in 2028, which looks like to be perfect timing for the coming uranium super cycle. The Etango Uranium Project is one of the few greenfield uranium projects that will be in production this decade. The project is fully funded and has one of the best offtake agreements ever negotiated in the sector with its JV partner CNNC.

Shaw and Partners said a final investment decision for the project was "now a formality with the last remaining conditions precedent for completion of the JV with CNNC to be completed''.

Shaw and Partners has a $6.50 price target on Bannerman shares compared to $3.15 at the time of writing.

The post These 2 ASX uranium companies could deliver 100% to 200% returns: broker appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

Bannerman Energy Ltd (ASX: BMN)

According to a note out of UBS, its analysts have initiated coverage on this uranium developer's shares with a buy rating and $5.15 price target. UBS is feeling positive about the long-term uranium outlook and is forecasting a price of US$100 per pound. It believes this will be driven by an increasing focus on energy security and growing demand from AI and data centres. The broker highlights that this enhances the project economics of Bannerman's Etango operation. This operation is based in Namibia, which it views as a relatively stable jurisdiction with a track record of successful and stable uranium assets with international ownership. In light of this, UBS sees a lot of value in the company's shares at current levels. The Bannerman Energy share price ended the week at $3.40.

Flight Centre Travel Group Ltd (ASX: FLT)

A note out of Morgans reveals that its analysts have retained their buy rating on this travel agent's shares with an improved price target of $14.80. Morgans points out that given recent downgrades from other travel industry peers because of the Middle East conflict, it wasn't surprised to see Flight Centre downgrade its earnings guidance last week. It believes that if it were not for the conflict, FY 2026 would have been a great year for Flight Centre given its strong results for the first nine months of the financial year. Looking ahead, Morgans is positive on Flight Centre's outlook and expects a strong rebound in its performance in the second half of FY 2027. As a result, it thinks investors should be buying the company's shares while they are down. This is especially the case given its belief that when operating conditions ultimately improve, both Flight Centre's earnings and share price will move materially higher. The Flight Centre share price was fetching $11.92 at Friday's close.

Liontown Ltd (ASX: LTR)

Analysts at Bell Potter have retained their buy rating on this lithium miner's shares with an improved price target of $2.90. According to the note, Bell Potter believes the outlook for lithium prices is positive. It came to this conclusion after comparing medium term lithium supply restarts and greenfield projects versus expected demand. In light of this, it has lifted its lithium price forecasts and its earnings estimates for Liontown in FY 2027 and FY 2028. In addition, due to current lithium price strength, Bell Potter notes that the company can rapidly generate cash to support incremental production expansions and shareholder returns. It also continues to see the Kathleen Valley operation as highly strategic in terms of scale, long project life, and location in a tier-one mining jurisdiction. The Liontown share price ended the week at $1.98.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Three top ASX shares that leading brokers have named as buys this week are outlined below. Here's why they are bullish on them:

Bannerman Energy Ltd (ASX: BMN)

According to a note out of UBS, its analysts have initiated coverage on this uranium developer's shares with a buy rating and $5.15 price target. The broker is positive on the long-term uranium outlook and is forecasting a price of US$100 per pound. This is due to an increasing focus on energy security and growing demand from AI and data centres. UBS highlights that this enhances the project economics of Bannerman's Etango operation in Namibia, which it views as a relatively stable jurisdiction with a track record of successful and stable uranium assets with international ownership. In light of this, the broker sees significant value in the company's shares at current levels. The Bannerman Energy share price is trading at $3.52 on Monday afternoon.

DigiCo Infrastructure REIT (ASX: DGT)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $3.40 price target on this data centre operator's shares. The broker highlights a seemingly exponential acceleration in data centre construction in recent years. In fact, it points out that this construction boom is now contributing 1.9% of Australia's GDP. While there are many winners from this trend, the broker believes DigiCo Infrastructure REIT likely presents the most upside opportunity via acceleration of its SYD1 DC expansion. It believes this expansion will be able to capture current demand and boost EBITDA above consensus expectations. The DigiCo Infrastructure REIT share price is fetching $2.58 at the time of writing.

Seek Ltd (ASX: SEK)

Another note out of Bell Potter reveals that its analysts have retained their buy rating on this job listings company's shares with a reduced price target of $18.60. The broker remains positive on Seek and has named the company as its preferred rate-sensitive classifieds exposure. It also highlights its belief that Seek is well-placed to avoid disruption from artificial intelligence (AI), pointing out that its underlying proprietary data (~750m points per day) partially consists of traffic meta data which is unable to be scraped by third parties. It thinks this is valuable for targeted job placements and should support yield through soft volume environments. The Seek share price is trading at $13.91 on Monday afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

The company's shares are up 33% over the past year to $3.44, but remain well below the highs of $5.25 achieved over that period.

We'll get to UBS' share price prediction shortly, but first, we will look at the company's news, which has been generating interest.

Progress on Namibian project

Bannerman's flagship project is the Etango mine development in Namibia, where it is progressing towards making a final investment decision, which is expected for the middle of this year.

In February, the company announced that the Shenzhen Stock Exchange-listed China National Uranium Corporation would invest up to US$321.5 million in the project, for a 45% stake in the Bannerman subsidiary, which owns 95% of Etango.

Namibian social welfare organisation One Economy Foundation owns 5% of the project.

Bannerman said at the time that the deal enabled the debt-free construction of the mine and that there could be other potential collaboration opportunities.

Bannerman Executive Chairman Brandon Munro said at the time:

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. Importantly, the residual 40% of Etango offtake will be independently marketed by Bannerman, with strict confidentiality ring-fencing arrangements in place, and strengthened by the flexibility embedded in the cornerstone offtake.

Bannerman shares looking like good value

UBS has this week published its first analyst report on Bannerman, saying the transaction "establishes a clear pathway to development of the Etango project with minimal incremental capex needed''.

UBS said the next major step for the company was to make a final investment decision, but that they "expect minimal completion risk".

They added:

We are constructive on the long-term uranium outlook as reflected with our US$100/lb long-term price forecast, which enhances Etango's project economics.

This bullishness on uranium is driven by "increasing focus on energy security as well as increasing demand from AI and data centres'', UBS said.

They added:

We forecast spot uranium trading from US$85/lb to US$100/lb by 2028 as the deficits widens. As it relates to BMN, we are attracted to its exposure to China counterparties who offer relatively favourable terms (with regard to payment terms etc) which should reduce stress on its balance sheet as it ramps to nameplate. Further, we view Namibia as a relatively stable jurisdiction with a track record of successful and stable uranium assets with international ownership.

UBS has a $5.15 price target on Bannerman shares. Bannerman is valued at $652.3 million.

The post How high does UBS think this ASX uranium share will go? appeared first on The Motley Fool Australia.

Four of the five companies they've assessed are trading at share prices that equate to a spot price lower than Macquarie's assumptions, meaning there's likely share price upside based on their modelling.

Let's have a look at what they're saying.

Paladin Energy Ltd (ASX: PDN)

Macquarie said Paladin had successfully ramped up production at its Langer Heinrich mine in Namibia and was also making "real progress" on its Patterson Lake South approvals in Canada.

Paladin recently reported that for the March quarter it had produced 1.29 million pounds of uranium at Langer Heinrich, up 5% from the previous quarter, "driven by strong processing plant performance''.

The Patterson Lake South Project had also had its environmental impact statement approved.

Macquarie said Paladin's share price underperformance against NexGen Energy (ASX: NXG), Cameco, and ASX-listed Namibian project developers "seems unwarranted".

Macquarie added:

We now see value in the shares, which imply a US$77/lb uranium price. We recognise downside risk to FY27 consensus production forecasts still exists into guidance, but investors are now being rewarded for taking this risk on, in our view.

Macquarie upgraded Paladin to outperform with a price target of $13.25.

Bannerman Energy Ltd (ASX: BMN)

Macquarie said that, with Bannerman's Etango project approaching a final investment decision and a partnership with China's CNNC substantially reducing funding needs, Bannerman shares were looking interesting.

Macquarie has an outperform rating on Bannerman shares with a price target of $5.55.

Deep Yellow Ltd (ASX: DYL)

Macquarie notes that Deep Yellow's Tumas project has completed earthworks and is entering the civil works phase, which could last 10 to 12 months.

Macquarie added:

Given its strong cash balance, DYL has at this stage preserved full flexibility on final investment decision timing. It is selecting a construction contractor, and is engaging with potential strategic partners on the project (including from the US).

Macquarie has an outperform rating on Deep Yellow shares with a price target of $2.25 per share.

Lotus Resources Ltd (ASX: LOT)

Lotus, Macquarie said, at its recent quarterly retracted some past production results and announced a series of management changes, with the shares subsequently falling more than 50%.

Macquarie said Lotus, which is already mining but not yet selling uranium, could need to raise capital if it faces delays getting export approvals.

Macquarie has a price target of $1.30 per share for Lotus, reduced from $1.90, which is still well above the current share price of 67.5 cents.

Boss Energy Ltd (ASX: BOE)

Macquarie said they still held concerns about Boss' downgrades to resources at the Honeymoon mine in South Australia and the new feasibility study.

Macquarie said:

It appears to be a smaller and more marginal asset than was widely believed under the prior management. However, we believe this is now more adequately reflected in the share price.

Macquarie upgraded its recommendation on Boss Energy to neutral from underperform and set a $2.25 share price target.

The post Which ASX uranium shares has Macquarie upgraded? appeared first on The Motley Fool Australia.

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).

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.

The post Up 88% in a year, why this ASX 300 uranium share is forecast to keep running hot appeared first on The Motley Fool Australia.

That's according to the team at Shaw and Partners.

Both Paladin and Boss Energy shares are already off to a strong start in 2026.

Year to date at the time of writing, the Paladin share price is up 28.3%, while Boss Energy shares have gained 14%. That compares to a 1.1% gain posted by the All Ordinaries Index (ASX: XAO) over this same period.

Why ASX uranium shares could charge higher from here

In a new report, Uranium Super-Cycle, Shaw and Partners recommends investors hold an overweight position in ASX uranium shares.

The broker expects that "a growing disconnect" between global uranium supply and long-term nuclear demand will see a big uptick in uranium prices, which should help lift profits for producers like Boss Energy and Paladin.

Uranium was recently trading for around US$88 per pound, after hitting a two-year high of $101 per pound on 29 January.

But citing structural supply deficits, accelerating nuclear demand, and tightening fuel contracting cycles, Shaw and Partners expects nuclear fuel to surge to US$200 per pound.

In the new report, the broker now forecasts a uranium spot price of US$175 per pound in 2027, up from its prior forecast of US$150 per pound. And in 2028, Shaw and Partners expects uranium will fetch US$200 per pound, up from the prior forecast of US$150 per pound.

Why the uranium price could more than double by 2028

Shaw and Partners' bullish outlook on the price of the nuclear fuel, and the resulting expected strength of ASX uranium shares, follows on what it called a "sharp market signal" when uranium spiked from US$85 per pound to US$102 per pound in only three days at the end of January.

Andrew Hines, head of research at Shaw and Partners, said this big move shows just how sensitive the uranium market is to incremental buying pressure.

According to Hines:

The January spike demonstrated how quickly this market can reprice. A relatively modest amount of financial buying was enough to move the spot price materially. If utilities return to the term market in size, we believe the upside move could be significant.

Shaw and Partners noted that global nuclear capacity currently consumes some 180 million pounds of uranium a year. That's significantly more than the existing mine production of around 150 million pounds a year.

And bringing more uranium to the market isn't something the miners can do overnight.

"On paper there are new projects slated for development, but in practice these are technically complex, capital intensive and often in challenging jurisdictions," Hines said.

Atop Paladin and Boss Energy, Shaw and Partners' preferred exposure to ASX uranium shares includes:

• Bannerman Energy Ltd (ASX: BMN), whose shares are up 28.6% year to date
• NexGen Energy Ltd (ASX: NXG), whose shares are up 24.5% year to date
• Peninsula Energy Ltd (ASX: PEN), whose shares are down 3.3% year to date

"The narrative around nuclear has shifted decisively," Hines said. "Energy security, decarbonisation and AI-driven power demand are converging. Nuclear is no longer a fringe solution. It is becoming central to energy policy."

The post Why ASX uranium shares like Paladin and Boss Energy could be set to rocket appeared first on The Motley Fool Australia.

The team at Macquarie have looked at two Australian uranium companies and believes one's looking good, while the other has some issues to work through.

Let's have a look at what they're saying.

Bannerman Energy Ltd (ASX: BMN)

This company is not a producer yet, but has recently made significant progress on funding for its Etango project in Namibia.

In mid-February, Bannerman announced that a Chinese company, the China National Nuclear Corporation, would invest up to US$321.5 million in the Etango project for a 42.75% stake.

Bannerman would then own 52.25% of the project with a Namibian organisation holding the remaining 5%.

The company said the funding would allow for the debt-free construction of the Etango mine, and CNNC had also agreed to buy 60% of the production from the mine.

Macquarie said in a research note to clients that CNNC was a strong partner for the project, given it already owned a majority stake in the Rossing uranium mine in Namibia and 25% of Paladin Energy Ltd (ASX: PDN)'s Langer Heinrich mine.

Macquarie said the deal substantially reduces equity dilution to finance the project, and added:

Etango Financial investment decision mid-year now looks a lot more certain, placing it at the front of the greenfield uranium project queue – something that customers should value as BMN markets the remaining 40% of the initial (production).

Macquarie has an outperform rating and a $5.60 price target on this ASX uranium share, compared with its current price of $4.38.

Boss Energy Ltd (ASX: BOE)

Boss Energy recently reported what it called a strong financial and operational result, chalking up a net loss of $7.9 million; however, this was largely due to the accounting treatment of inventory, while free cash flow was robust at $36.2 million.

The real story for investors is around what will happen longer term with the Honeymoon uranium mine, where the company said in mid-December that it had to throw away the assumptions under a previous feasibility study and start again.

On the upside, the company said there was a potential pathway forward for an alternative wide-spaced well design; however, it remained at concept stage at this point.

The company said there was the potential for lower costs and better production from the new design; however, more work remained to be done.

The team at Macquarie says this constitutes a major risk for investors.

As they said:

We still hold the view that Honeymoon will be challenging, and wide spacing trials carry risk. A complicated proposition; we believe investors should wait to see more definitive results from wider spaced leach trials first before making an investment decision.

Macquarie has a price target of $1.30 on this ASX uranium share, compared with $1.74 currently.

The post One uranium stock to buy and one to sell, according to Macquarie appeared first on The Motley Fool Australia.

Are they buys, holds, or sells? Let's find out:

Bannerman Energy Ltd (ASX: BMN)

The team at Fairmont Equities sees value in this ASX uranium stock. It believes Bannerman stands to benefit from increasing demand for uranium, which it expects to outstrip supply in the coming years.

As a result, it has named it as an ASX share to buy this week. Fairmont explains:

Bannerman is a uranium development company. Its flagship Etango project is based in Namibia. The uranium sector continues to appeal because demand should continue to outpace supply for the next several years. 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.

Commonwealth Bank of Australia (ASX: CBA)

Morgans thinks that Australia's largest bank is undoubtedly a high-quality company. However, due to its stretched valuation, it isn't a buyer at current levels.

In addition, with much of the good news now priced in, the broker is recommending investors sell CBA shares. It commented:

CBA is a high quality company. But the bank's valuation has stretched well beyond peers, reflecting investor preference for safety and consistency. Much of the good news, including strong deposit margins and sector leading returns, is already priced in, leaving limited scope for upside from here. We see better value elsewhere in the sector and believe the current premium leaves the stock vulnerable to even modest disappointment, which supports our sell rating at these levels.

Telstra Group Ltd (ASX: TLS)

Morgans is a little more positive on telco giant Telstra, but not enough to justify a buy recommendation.

The broker has named Telstra shares as a hold. It thinks the stock is fairly valued at current levels, stating:

This telecommunications giant offers stable earnings, a strong mobile network and dependable dividends, making it a defensive holding in a volatile market. However, while its core mobile business continues to perform well, the growth outlook is steady rather than exciting. The stock appears fairly valued at recent levels, reflecting its predictable cash flows and limited near term catalysts. For now, Telstra remains suitable as an income‑focused hold due to its defensive earnings stream, but we don't see a compelling reason to materially increase exposure.

The post Buy, hold, sell: Bannerman, CBA, and Telstra shares appeared first on The Motley Fool Australia.

Bannerman Energy shares closed on Wednesday trading for $3.95. The stock entered a trading halt yesterday pending the release of an announcement regarding a strategic investment in its Etango Uranium Project, located in Namibia.

Following the release of that announcement this morning, Bannerman Energy shares are changing hands for $3.49 apiece, down 11.7%.

For some context, the ASX 300 is down 1.1% at this same time.

Here's what's happening.

ASX 300 uranium stock sinks on JV funding deal

Investors are favouring their sell buttons after the ASX 300 uranium stock reported executing a binding investment subscription and joint venture documentation with CNNC Overseas Limited (CNOL).

The agreement covers the funding, development and operation of Bannerman's Etango Uranium Project. At completion, CNOL will invest up to US$321.5 million in the project.

CNOL is a subsidiary of Chinese-listed China National Uranium Corporation and part of the integrated global nuclear utility, China National Nuclear Corporation (CNNC).

Bannerman said the agreement is the preferred project funding solution for Etango, offering the highest forecast risk-weighted value outcome and enabling debt-free construction of the Etango mine. CNOL will also purchase 60% of the Etango uranium production at market-based pricing terms.

But the ASX 300 uranium stock could be facing pressure, with CNOL taking a 45% interest in Bannerman UK, a subsidiary, Bannerman Energy, which in turn owns 95% of the Etango Project.

Bannerman Energy will retain 52.25% underlying economic ownership of Etango, while CNOL will hold 42.75%, with Namibian social welfare organisation One Economy Foundation continuing to hold a 5% loan-carried shareholding.

Bannerman expects the transaction to complete in mid-2026.

What did management say?

Commenting on the JV Etango funding deal that's pressuring the ASX 300 uranium stock today, Bannerman Energy executive chairman Brandon Munro said, "The execution of this documentation represents the culmination of the extensive Etango funding workstream we have undertaken over the past two years."

He added:

We believe that this transaction delivers the optimised finance solution for the development of Etango and provides ideal support to our broader aspirations in the uranium business.

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.

As for the offtake agreement, Munro noted:

Importantly, the residual 40% of Etango offtake will be independently marketed by Bannerman, with strict confidentiality ring-fencing arrangements in place, and strengthened by the flexibility embedded in the cornerstone offtake with CNOL.

CNUC vice president Feng Li concluded:

We are confident that the synergy created between our technical capabilities, uranium demand profile, operational experience, and Bannerman's expertise and insight in the industry will position Etango to evolve into the next successful uranium mine in Namibia.

With today's intraday fall factored in, shares in the ASX 300 uranium stock remain up 19.9% over 12 months and up 98.8% since its April lows.

The post Why is this outperforming ASX 300 uranium stock crashing 12% on Friday? appeared first on The Motley Fool Australia.

During the Monday lunch hour, the All Ordinaries Index (ASX: XAO) is just about flat.

Paladin Energy shares, meanwhile, are surging 8.2%, trading for $10.96 apiece.

If we add in Friday's 5.6% gains, then the Paladin Energy share price has already gained 14.3% in this brand-new year. And this is a $5 billion company we're talking about.

Here's how some of the other top ASX uranium shares are performing:

• Boss Energy Ltd (ASX: BOE) shares are up 3.6% today and up 10.7% since 31 December
• Deep Yellow Ltd (ASX: DYL) shares are up 5.4% today and up 11.4% in 2026
• Lotus Resources Ltd (ASX: LOT) shares are up 9.2% today and up 15.5% this year
• Bannerman Energy Ltd (ASX: BMN) shares are up 6.7% today and up 10.2% since 31 December

Here's what's sending the Aussie uranium miners soaring.

ASX uranium shares enjoying growing global demand

While Australia continues to drag its heels on developing nuclear energy stations for reliable baseload power, much of the rest of the world is ploughing ahead.

In November, for example, the United States reported its intentions to buy up to 10 new large scale nuclear reactors.

This latest surge in ASX uranium shares like Paladin Energy and Deep Yellow comes after investors learned that Duke Energy Corp (NYSE: DUK) had filed an early site permit application to build a new nuclear reactor in the US state of North Carolina.

Duke Energy this reflects its "strategic, ongoing commitment to thoroughly evaluate new nuclear generation options" to meet its customers increasing energy demand while reducing costs and risks.

Commenting on the application, Duke Energy North Carolina president Kendal Bowman said:

Nuclear energy has and will continue to play an essential role in powering communities in the Carolinas. Submitting an early site permit application is an important next step in assessing the potential for small modular reactors at the Belews Creek site.

Duke Energy said it has not yet made a final decision to build new nuclear units.

But Paladin Energy, Boss Energy and their rival ASX uranium shares look to be catching tailwinds with the US-based company reporting that it plans to add 600 megawatts of advanced nuclear to the system by 2037.

Management expects the first small modular reactor to come online in 2036.

The post Buying ASX uranium shares like Paladin Energy? Here's why they're starting 2026 with a bang! appeared first on The Motley Fool Australia.

In morning trade on Thursday, the All Ords is up a welcome 1%.

Here's how these leading ASX uranium stocks are tracking at this same time:

• Boss Energy Ltd (ASX: BOE) shares are up 4% at $1.70
• Deep Yellow Limited (ASX: DYL) shares are up 8.1% at $1.73
• Paladin Energy shares are up 4.5% at $8.36
• Lotus Resources Limited (ASX: LOT) shares are up 4.6% at 17.3 cents
• Bannerman Energy Ltd (ASX: BMN) shares are up 5.7% at $3.18

Here's what's spurring ASX investor interest today.

ASX uranium stocks catching US tailwinds

The Aussie uranium miners are catching tailwinds on two fronts today. And both are blowing out of the United States.

First, the US Department of Energy announced that it will loan US$1 billion (AU$1.5 billion) to Constellation Energy to help fund the restart of the Three Mile Island nuclear power plant. That site was home to the worst nuclear accident in the US in 1979 when one of the units suffered a partial meltdown.

In welcome news for ASX uranium stocks like Paladin Energy, however, US President Donald Trump is an adamant supporter of nuclear energy and encourages its use to help power the rapid growth of AI data centres.

Microsoft Corp (NASDAQ: MSFT) has contracted the Three Mile Island nuclear facility to power its own data centre expansions. The plant is scheduled to recommence operations in 2027.

Commenting on what he labelled the "American nuclear renaissance", US Energy Secretary Chris Wright said (quoted by Newsweek):

Constellation's restart of a nuclear power plant in Pennsylvania will provide affordable, reliable, and secure energy to Americans across the Mid-Atlantic region. It will also help ensure America has the energy it needs to grow its domestic manufacturing base and win the AI race.

What other US nuclear news is fuelling investor optimism?

ASX uranium stocks, including Boss Energy, Paladin Energy, and Deep Yellow, are also getting a boost from news that the US intends to buy up to 10 new large-scale nuclear reactors.

In an interesting twist, Bloomberg reports the reactors may be paid for with part of Japan's US$550 billion pledge to fund US projects.

Energy Department chief of staff Carl Coe noted, "The role of having the government involved in private markets is sacrosanct — you just don't do it. But this is a national emergency."

The post Why are ASX uranium stocks like Paladin Energy going gangbusters on Thursday? appeared first on The Motley Fool Australia.

In a recent note to investors, the broker said that uranium developers are moving to be shovel-ready, but are reluctant to commit to offtake until term prices and contract floors improve. 

Uranium prices increased to US$77.90 per pound on Monday, up 0.58% from the previous trading day. Over the past month, the price of uranium has fallen 1.58%, but it remains 1.63% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.

Macquarie said Paladin Energy Ltd (ASX: PDN) is its top pick for uranium producers. The broker also sees material upside for Bannerman Energy Ltd (ASX: BMN) and Deep Yellow Ltd (ASX: DYL) as their respective Namibian projects move into development.

Here's what Macquarie analysts expect from the three stocks over the next 12 months.

Paladin Energy

The Paladin Energy share price is trading in the green on Wednesday morning. At the time of writing, the shares are 0.6% higher at $8.34 a piece. That's a 3.99% drop since this time last month, likely due to slumping uranium prices, but over the year, the shares are still 22.53% higher.

Macquarie has an outperform rating on the shares and an $11.25 target price. At the time of writing, that implies a potential 34.9% upside over the next 12 months.

In its note, the broker commented that Paul Hemburrow, Managing Director and CEO of Paladin Energy, outlined the final phases ahead of the Langer Heinrich ramp-up, which is expected to occur ahead of full mining and processing in FY27. 

"Mr Hemburrow indicated recoveries are stabilising within target levels and that the remaining mining fleet is expected to be in service in the 2HFY26. At the Patterson Lake Project (PLS) in Canada he highlighted the significant resource growth potential in the region which could provide upside outside of the 10-year life," the broker said.

Bannerman Energy

Bannerman shares are also in the green this morning. At the time of writing, its share price is 0.46% higher at $3.30 a piece. Over the past month, the shares have slumped 10.22% but over the year, they're 19.38% higher.

Macquarie initiated coverage on the Australian uranium stock late last week. It assigned an outperform rating and $5.50 target price to the uranium developer. That implies a potential 66.7% upside for investors over the next year.

In its note this morning, the broker stated that Bannerman Executive Chairman Brandon Munro has outlined the company's flagship Etango uranium project, located in Namibia, and noted that it is fully permitted with a clear pathway to development. 

"Etango will be a conventional open pit with heap leach processing at 8Mtpa throughput, and excavation of heap leach ponds and primary crusher site has commenced," Macquarie said.

Deep Yellow

The Deep Yellow share price is 3% higher this morning to $1.72 a piece, at the time of writing. Over the month, the uranium stock has shed 17.05% of its share price, but the shares are still a whopping 42.15% higher than this time last year.

Late last month, Macquarie reduced its 12-month target price for Deep Yellow shares by 4% to $1.95 each, citing concerns about delays. Despite the cut, the target price still suggests a potential 13.4% upside ahead for investors, at the time of writing.

Macquarie highlighted that Deep Yellow CFO and acting CEO, Craig Barnes, and head of business development, Andrew Mirco, have provided an overview of the business and the company's strategy surrounding the de-risking of the Tumas Project. It included detailed engineering, procurement, early works, power, and water supply. 

"The company also indicated that the appointment of a new CEO/MD is imminent, and that this was unlikely to slow down the path to FID significantly given the team John Borshoff had built around him at DYL has strong project execution capabilities and an operational skill set," Macquarie said in the note.

The post Macquarie's top 3 ASX uranium stock picks tipped to gain up to 67% appeared first on The Motley Fool Australia.

The shares have dropped 18.47% over the past month but are still 8.04% higher than this time last year.

For context, the ASX All Ordinaries (ASX: XAO) index is down 0.28% at the time of writing. For the year it is 6.98% higher.

Bannerman Energy is an Australian uranium developer. It has a flagship Etango Project in Namibia, Africa, which is one of the world's largest undeveloped uranium assets. Bannerman has undertaken extensive feasibility studies at the site and has environmental approvals for a future mining operation.

And today, analysts at Macquarie Group Ltd (ASX: MQG) have initiated coverage on the stock, with a very bullish outlook on where the share price will go from here.

The ASX All Ords stock is tipped to surge

In a note to investors, the broker revealed it has an outperform rating and $5.50 target price on the uranium developer.

At the time of writing that implies a huge potential 78% upside for investors over the next 12 months.

"Valuation: Our 12-mth TP based on 1.0x NAV is A$5.50/sh (on US$95/lb uranium). We already include the anticipated dilution from equity issuance to build Etango-8 (a strategic partner selldown could pose upside)," the broker said in its note.

Catalysts: Uranium price, Etango strategic partner entry, Etango FID (next 6 mths), Etango first drummed U3O8 (2028), Etango XP decision (~2030)….Investment Thesis and Recommendation Outperform. Etango is at the front of the greenfield uranium project queue, being fully approved in a proven and low risk jurisdiction with early works underway and long leads ordered. Strengthening uranium contract price structures are an enabler of the project, and driver of share price upside.

What else does Macquarie have to say about the energy stock?

Macquarie noted that the uranium industry lacks shovel-ready greenfield uranium projects, at a time when uranium demand growth is structurally accelerating. 

It explains that Bannerman Energy's Etango project is fully approved and has now commenced more substantial early works. A final investment decision (FID) is also approaching, and the company plans to deliver its first uranium to market in 2028. 

Given strong reactor growth (~70 under construction, nearly half in China), utilities will need more uranium – with restarts nearly exhausted, we forecast US$95/lb long term uranium prices. While BMN is retaining uncapped upside on majority volumes for now, which we believe is prudent, if floors rise to the ~US$85/lb zone it could start to make sense to layer in (would depend on financing structure).

The post Macquarie initiates coverage on this ASX All Ords energy stock; tips close to 80% upside appeared first on The Motley Fool Australia.

Bannerman shares closed yesterday trading for $3.75. In late morning trade on Wednesday, shares are swapping hands for $3.42 apiece, down 8.8%.

Despite today's apparent profit-taking, Bannerman Energy shares remain up an impressive 45.6% since closing at $2.35 each on 20 August.

And according to Fairmont Equities' Michael Gable, the ASX 300 uranium stock is well-placed to keep rallying higher from here (courtesy of The Bull).

Should you buy the dip on Bannerman Energy shares today?

"Bannerman is a uranium development company with its flagship Etango project in Namibia," said Gable, who has a buy recommendation on the ASX 300 uranium stock.

"The company recently announced a major offtake agreement starting in 2029," he added.

Gable concluded:

I remain bullish on uranium miners, and BMN is displaying strong signs that it's bottomed out and is ready to rally further from here. After the peak in late June, BMN then pulled back to consolidate.

On 19 June, Bannerman Energy shares closed the day at $3.57 apiece, then trended lower through to 20 August.

What's happening with the ASX 300 uranium stock's offtake agreement?

Bannerman announced the offtake agreement that Gable referred to above on 5 September.

The miner reported that it had has executed two binding contracts with two Tier-1 North American generation companies for the sale of 1.0 million pounds of uranium over a five-year term from 2029 to 2033.

The uranium is targeted to be produced from the ASX 300 uranium stock's Etango project from 2028 onwards.

The company noted that Etango's significance as a "highly advanced and credible" new supply source is continuing to attract strong interest from global utilities. The contracting strategy was also reported to be flexible, enabling Bannerman to incorporate market-related pricing components to benefit from potentially higher forecast future uranium prices.

Commenting on the new agreements on the day, Bannerman Energy CEO Gavin Chamberlain said, "The signing of these limited, select offtake agreements with high-quality utility counterparties represents a further important step in our systematic advancement of Etango towards a targeted Final Investment Decision."

He added:

We are able to demonstrate to potential customers a strong foundation for confidence in our ability to meet future supply commitments. In combination with growing global nuclear demand and ongoing tightening in uranium markets, this further reinforces our position as a strategic, long-term supplier to major utilities.

With today's intraday slide factored in, shares in the ASX 300 uranium stock remain up 52.7% since this time last year.

The post Up 46% in a month, why this ASX 300 uranium stock can keep charging higher appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

4DS Memory Ltd (ASX: 4DS)

The 4DS Memory share price is down 64% to 1 cent. This morning, this semiconductor company revealed that following the conclusion of extensive analysis of its Sixth Platform Lot results, it has resolved to initiate a strategic review of its technology pathway. The review includes a pause in development activities and disengagement of collaborations with imec and Infineon Technologies. Executive chair, David McAuliffe, said: "While the decision to undertake a strategic review is difficult, it is also the right decision. This strategic review is about ensuring that our capital is deployed in a manner which is most advantageous toward creating shareholder value in a fast-moving industry."

Bannerman Energy Ltd (ASX: BMN)

The Bannerman Energy share price is down almost 2% to $3.18. This is despite the uranium developer announcing binding offtake purchase commitments for 1 Mlbs of uranium over five years with two Tier-1 North American generation companies. Management notes that contractual terms under both agreements provide the company with delivery flexibility to preserve Bannerman's capacity for strategic patience ahead of final investment decision at Etango. Bannerman's CEO, Gavin Chamberlain, said: "The signing of these limited, select offtake agreements (the first for Bannerman) with high-quality utility counterparties represents a further important step in our systematic advancement of Etango towards a targeted Final Investment Decision. We are able to demonstrate to potential customers a strong foundation for confidence in our ability to meet future supply commitments."

Coles Group Ltd (ASX: COL)

The Coles Group share price is down over 1% to $23.83. This has been driven by the supermarket giant's shares going ex-dividend this morning for its latest payout. Last month, Coles released its FY 2025 results and declared a fully franked final dividend of 32 cents per share. This will be paid to eligible shareholders later this month on 22 September.

Viva Energy Group Ltd (ASX: VEA)

The Viva Energy share price is down almost 2% to $2.06. This has also been caused by the fuel retailer's shares going ex-dividend this morning. Last month, when the company released its half year results, it declared a fully franked 2.8 cents per share interim dividend. Eligible shareholders can now look forward to receiving this at the end of the month on 30 September.

The post Why 4DS Memory, Bannerman, Coles, and Viva Energy shares are tumbling today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Bannerman Energy Ltd (ASX: BMN)

The Bannerman Energy share price is down 9% to $3.20. This has been driven by news that the uranium developer has completed an $85 million placement. According to the release, Bannerman Energy has received firm commitments for a placement of approximately 26.6 million shares to new and existing institutional and sophisticated investors at $3.20 per new share. This represents a 9% discount to its last close price. Management notes that the proceeds will support construction activities, infrastructure costs, and general working capital as it advances its flagship Etango Project towards a positive final investment decision.

Life360 Inc (ASX: 360)

The Life360 share price is down 2.5% to $30.62. This is despite there being no news out of the location technology company on Thursday. Though, it is worth highlighting that most ASX tech shares are trading lower today. This has led to the S&P/ASX All Technology Index tumbling 1.2% this afternoon.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is down almost 3.5% to 14.5 cents. This morning, this energy company announced the results of its strategic review. It revealed that it will refocus its asset portfolio to align to Western Australia's energy transition demands, exit non-core assets, and retain flexibility across gas processing and gas-fired power development pathways to maximise value. Strike Energy's chair, John Poynton, adds: "The Board's strategic review, conducted with independent support, has rigorously assessed Strike's portfolio and charted a clear path to unlock the full potential of our unique asset base."

Xero Ltd (ASX: XRO)

The Xero share price is down almost 5% to $184.98. This has been driven by the completion of the cloud accounting platform provider's institutional placement this morning. Xero has raised $1.85 billion through the placement of approximately 10.5 million shares to sophisticated and institutional investors at $176 per new share. This was a 9.4% discount to its last close price. The proceeds will be used to partly fund Xero's acquisition of Melio. It is a fast-growing payments platform that is designed to help small businesses pay bills and manage accounts payable in the United States.

The post Why Bannerman Energy, Life360, Strike Energy, and Xero shares are tumbling today appeared first on The Motley Fool Australia.