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.

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

CAR Group Limited (ASX: CAR)

The CAR Group share price is up 2% to $38.20. Investors have responded positively to news that this auto listings company is exiting its Australian Tyre business. The carsales.com.au owner revealed that it made the decision following continued difficulty in achieving sustainable profitability in what is a highly competitive tyre retail and wholesale market. CAR Group has agreed to sell its wholesale division Tyreconnect, whereas it will close its e-commerce platform tyresales.com.au with immediate effect.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is up 7% to $1.38. This morning, this uranium producer provided an update on the restart of the Lance Project in the USA. According to the release, following the restart of operations on the 18 December, approximately 1,100 pounds of uranium has been captured in the plant ion exchange system. Peninsula also advised that it has received the final approval from State of Wyoming Department of Environmental Quality, Land Quality Division to expand the authorised mine permit area to include the Kendrick Project area at Lance.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is up 12% to 14 cents. This struggling casino and resorts operator's shares are lifting on news that a new substantial shareholder has emerged on its share register. Xingchun Wang has become a substantial shareholder after adding to an existing position with a $3.16 million purchase of shares on-market on Monday. They appear to believe that Star Entertainment can get out of its sticky situation.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 3.5% to $24.86. Investors have been buying this radiopharmaceutical company's shares after it released an update on its performance in FY 2024. Telix revealed that total unaudited full year revenue is up 55% year on year to approximately US$517 million (AU$783 million). This compares to its guidance range of US$490 million to US$510 million for the year. CEO Dr. Christian Behrenbruch, said: "This has been another great quarter of commercial performance. Strong sales of Illuccix have led Telix to close out the year with revenue above guidance, while significantly progressing our strategic priorities."

The post Why CAR Group, Peninsula Energy, Star, and Telix shares are charging higher today appeared first on The Motley Fool Australia.

Shares in United States-focused uranium producer Peninsula Energy Ltd (ASX: PEN) closed yesterday trading for $1.29. In earlier trade today, shares were changing hands for $1.44 apiece, up 11.6%. After some likely profit-taking, shares are currently trading for $1.375 each, up 6.59%.

As you can see on the chart above, the ASX All Ords uranium stock still has a lot of ground to make up after a horror year in 2024. But over the past month, things have taken a strong turn for the better.

Here's what's stoking investor interest today.

ASX All Ords uranium stock soars on promising update

The Peninsula Energy share price is leaping higher after the company released a promising update on its Lance Projects, located in the US state of Wyoming.

The company restarted uranium in situ recovery (ISR) operations at Lance on 18 December 2024. Management said the Lance Project "operated smoothly and efficiently over the end of year holiday period".

Around 1,100 pounds of uranium were captured in the plant ion exchange system and have been held as in-process inventory between the start date and the end of 2024.

The miner noted that its current priorities are to continue ramping up the wellfield preconditioning and production operational flowrates to increase the rate of uranium recovery.

Also likely spurring investor interest in the ASX All Ords uranium stock, construction of Peninsula's Phase II central processing plant resin elution and uranium precipitation circuits are expected to be completed this month.

Management said:

The first of two yellowcake dryer units has been delivered to the project site and construction crews are preparing to install the dryer for operations later in the quarter. No dry yellowcake has been produced yet, with Peninsula targeting production of the first dry yellowcake product in March.

Offering another potential tailwind, Peninsula reported that the State of Wyoming Department of Environmental Quality, Land Quality Division has issued an approved Permit to Mine amendment to expand Peninsula's authorised mine permit area at Lance.

As for the balance sheet, the ASX All Ords stock had an unaudited cash balance of US$45 million as at 31 December.

Management said the "healthy balance sheet" positions Peninsula well to finalise the construction and commissioning of its Phase II plant expansion and ramp-up production from Mine Unit 3.

Mine Unit 3 is the first mine unit to be solely mined using Peninsula's low pH leaching method.

The post ASX All Ords uranium stock rockets 12% on big US news 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:

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price is down 9% to $1.04. Investors have been selling this gold miner's shares on Monday after it downgraded its production guidance. Management has revised its full year gold production guidance range to 150,000 ounces to 165,000 ounces. This compares to its original guidance range of 165,000 ounces to 180,000 ounces for FY 2025. The company blamed its underperformance on lower grade production as the mine sequence progressed through the outer edges of the orebody moving towards the higher-grade core.

BHP Group Ltd (ASX: BHP)

The BHP Group share price is down almost 2% to $39.06. This follows broad weakness in the mining sector on Monday. According to CommSec, iron ore futures slipped 1.2% to US$99.44 per tonne on Friday. This was driven by some traders liquidating long positions on faltering demand after most steelmakers in China completed pre-holiday restocking of feedstocks. This meant that iron ore fell for a third straight week and was down 4.3% for the period.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 8% to 38 cents. This may have been driven by profit taking after some strong gains in recent weeks. For example, this semiconductor company's shares are up almost 70% since this time last month despite today's pullback. In addition, Brainchip issued 204,813 shares to one of its directors on Monday after they vested their performance rights.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is down 5.5% to $1.39. This is despite the uranium developer announcing its new managing director and CEO this morning. Peninsula Energy has named George Bauk as its new leaders. He will commence in the role on 20 January. Bauk said: "I am extremely pleased to be joining the Peninsula team at such an exciting and pivotal time for the Company. I want to acknowledge the outstanding work of Wayne in bringing the Lance Project back into production and setting a solid foundation for its future success. I look forward to collaborating with him in his advisory role as we build on this achievement."

The post Why Bellevue, BHP, Brainchip, and Peninsula Energy shares are tumbling today appeared first on The Motley Fool Australia.

Uranium stocks started the year on a high following the incredible gains of 2023. For most of the first half of 2024, those gains continued. But more recent months have brought less prosperity.

Take leading uranium stock Paladin. It's seen its value decline by more than 54% since May. Check it out for yourself below:

Peninsula Energy Ltd (ASX: PEN) has fared similarly. It's down a whopping 60% or so since its last peak earlier this year.

Much of the misfortune that ASX uranium shares like Paladin and Peninsula have endured this year can be attributed to the falling price of uranium itself. After a blowout year in 2023, uranium prices have come back down to earth in recent months.

As my Fool colleague Bernd covered late last month, uranium was US$94 per pound in May but had tanked to US$78 per pound by late November.

Many investors clearly took note of this, judging by what has happened with the prices of uranium shares like Paladin and Peninsula.

But other investors, perhaps of the value persuasion, might be considering these stocks as a buying opportunity right now.

ASX expert names uranium shares like Paladin as a buy

One of these investors is Monash Investors. This fund manager discussed its confidence in both Paladin and Peninsula in a recent update for its Monash Investors Small Companies Fund. This fund currently owns both of these ASX uranium shares in its portfolio.

Monash views both companies' recent share price performances as "market overreactions" related to both falling uranium prices and "production ramping projects". The fundie has recently added to both positions, taking advantage of their lower share prices. Here's some more of what Monash had to say about its confidence in uranium as a commodity and, by extension, these stocks:

The pair of negative updates, and what we believe to be market overreactions for both are in the context of no change to our assessment of the long-term importance of and potential for uranium itself.

Uranium demand is set to grow dramatically in the years ahead as nuclear grows in importance toward solving the globe's clean energy problems. And while supply can ultimately match this demand, the incentive pricing to bring that supply on is supportive of a strong long-term outlook for the price of uranium… we have been well-placed to capitalise on – as noted – what we believe are market overreactions.

Investors in ASX uranium shares like Paladin and Peninsula Energy will no doubt find this view reassuring as we wind down 2024. But let's see what happens next year.

The post Down 20% to 40%, are these ASX uranium shares victims of 'market overreactions' 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:

Healius Ltd (ASX: HLS)

The Healius share price is down 17% to $1.32. Investors have been selling this healthcare company's shares following the release of a trading update at its annual general meeting. At the event, management said: "In terms of a trading update – Pathology volumes have increased by 4.5% for the year to date, with revenues growing by 5.9%. While this is pleasing, it is worth noting that this does not translate immediately to earnings due to our investment in growing revenues as a key pillar of our strategy, along with labour cost pressures for EBAs and other inflationary increases."

Opthea Ltd (ASX: OPT)

The Opthea share price is down 7% to 65 cents. This is despite the clinical stage biopharmaceutical company announcing that it has received a major research and development (R&D) tax credit from the Australian Taxation Office. Opthea has received A$15.9 million (US$10.4 million) for research and development costs incurred in the 2023/2024 financial year. This is in line with the amount disclosed as a current tax receivable in the company's audited financial statements.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is down 23% to 6.4 cents. This follows the release of an update on the ramp up of the Lance Project. Management notes that delays in preconditioning together with flow rate variability has led the company to further downgrade its projected production guidance for the initial year of production ramp-up in 2025 to approximately 600,000 pounds U3O8. It has also withdrawn all other guidance in relation to 2025. Positively, it doesn't expect 2026 and 2027 to be impacted by these issues.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is down a further 11% to 28 cents. Investors have been selling this lithum explorer's shares this week amid reports that it was raided. However, Wildcat has denied the report, though it advised that it has been issued notices from ASIC. The release states: "The Company has not been raided and no Company property was seized by the Australian Securities and Investments Commission (ASIC) and is not aware that the Company is the subject of an ASIC investigation. The Company can confirm that ASIC previously issued notices to the Company requiring it to produce certain books and provide assistance in relation to trading in the Company's securities in 2023. The Company has complied with these requests."

The post Why Healius, Opthea, Peninsula Energy, and Wildcat shares are falling today appeared first on The Motley Fool Australia.

At the time of writing, the ASX uranium share is down a whopping 25% to a 52-week low of 6.2 cents.

Why is this ASX uranium share crashing?

Investors have been rushing to the exits today after the uranium developer released a disappointing update.

Peninsula Energy provided updated status information and production forecasting for its Lance Project in Wyoming, United States.

In respect to the former, management notes that the Lance Project remains on track for a December 2024 production restart. However, things aren't going smoothly. The company notes:

The Company initated preconditioning operations of the newly developed Header House 11 (HH-11) area of Mine Unit 3 (MU-3) in early November. The start of preconditioning was delayed approximately 6 weeks as the site team experienced challenges in the commissioning of the new acid storage and delivery systems. With the commissioning issues now resolved, and HH-11 preconditioning flows operating at full capacity, the Company has determined that the header house is operating at approximately 67% of the overall design flow rate.

Production guidance downgraded

In light of the above, the ASX uranium share has been forced to downgrade its guidance.

It notes that delays in preconditioning together with flow rate variability has led the company to further revise its projected production guidance for the initial year of production ramp-up in 2025 downward to approximately 600,000 pounds U3O8. It has also withdrawn all other guidance in relation to 2025.

One positive, though, is that management does not expect these delays to be cumulative. As a result, the cumulative production estimate for 2026 and 2027 remains broadly in line with earlier estimates as the company continues to develop and bring on-line new wellfield production areas.

The ASX uranium share's CEO, Wayne Heili, said:

While some aspects of the project development are slightly lagging earlier projections, it is pleasing to know there are no indications that the impacts will extend beyond the initial ramp-up phase.

Peninsula has benefited from the long-term dedication of its experienced and capable senior management team and Directors who have made an enduring personal commitment to seeing the Lance Projects back into production. With that objective now in plain sight, this is the proper time to introduce fresh eyes and a different balance of skills that are required to meet the needs of a fully advanced uranium production company.

The post Why this ASX uranium share is plunging 25% on Friday appeared first on The Motley Fool Australia.

At the closing bell:

• Deep Yellow Limited (ASX: DYL) shares were down 3.9% to $1.48
• Boss Energy Ltd (ASX: BOE) shares were down 2.93% to $3.65
• Paladin Energy Ltd (ASX: PDN) shares were down 1.92% to $12.76
• Bannerman Energy Ltd (ASX: BMN) shares were down 1.5% to $3.29
• Peninsula Energy Ltd (ASX: PEN) shares were steady at 11 cents

This compares to a 1.66% fall in the S&P/ASX 200 Index (ASX: XJO) today.

What's been happening with ASX uranium shares?

After a strong run in 2023, ASX uranium shares have come under pressure as the uranium price has weakened.

As this chart shows, 2023 was a fantastic year, with stocks buoyed by a rapidly rising commodity price.

The uranium price soared from under US$50 per pound (pp) in January 2023 to more than US$105 pp a year later. This happened because nuclear energy became a hot topic in the world of investment.

More countries are investing in nuclear energy as part of their green energy mix for the future.

And none more so than China, which is building 22 of the 58 nuclear reactors under construction worldwide today.

Of course, this means demand for uranium will rise as nuclear energy is embraced over the long term.

All that excitement came undone this year when the uranium price began to fall amid higher supply.

What's changed for the uranium price in 2024?

The commodity price has fallen gradually this year. It has declined from above US$105 pp in early February to about US$82 pp today.

The fall in the commodity price has led to volatility among ASX uranium shares this year, as shown below.

But things are looking up.

Many ASX uranium shares have been lifting since early September "as the uranium price found support after a sustained period of weakness", according to Blackwattle Investment Partners.

In a recent update, Blackwattle Small Cap Quality Fund portfolio managers Robert Hawkesford and Daniel Broeren said they are optimistic about the outlook for the uranium price over the next few months.

The fund is invested in Paladin Energy shares, which rose by 18% in September alone. This made the ASX uranium share one of the main positive contributors to the fund in September, the managers said.

The uranium price is now trading close to two-month highs, which has supported ASX uranium shares.

Since 30 August:

• Bannerman Energy shares are up 44.4%
• Deep Yellow shares are up 35.8%
• Paladin Energy shares are up 30.4%
• Boss Energy shares are up 28.9%
• Peninsula Energy shares are up 27.5%

Investors have also bought ASX uranium shares after Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) recently announced plans to invest in nuclear power for their future artificial intelligence needs.

Trading Economics analysts say the demand outlook for uranium has become a bit more bullish.

Tailwinds include news from China, with economic stimulus likely to support demand for energy, while an easing in monetary policy would likely support further investment in nuclear power.

But there's another factor that Blackwattle says should support the commodity price in the final months of 2024, with positive implications for ASX uranium shares.

Seasonal increase in uranium trading ahead, say analysts

Hawkesford and Broeren said the weakness in the uranium price over the first half of 2024 "largely reflected a lack of contracted volume for physical uranium as utility buyers held back".

They anticipate a repeat of 2023 trends in which most of the contracted volume of uranium was traded in the second half of the calendar year. This activity provided a tailwind for the uranium price.

Hawkesford and Broeren said:

However, as was the case in 2023, most of the contracted volume was transacted in the back end of the calendar year after the annual World Nuclear Symposium (September), which brings together the largest buyers and sellers. We anticipate the same trend in 2024 and have used the recent weakness in PDN's share price to increase our position size.

The post Here's why this fundie anticipates a stronger run for ASX uranium shares from here appeared first on The Motley Fool Australia.

The uranium industry is shining brighter than plutonium on Thursday morning, with strong gains been recorded across the board.

Let's see how a number of uranium miners and developers are performing at the time of writing:

• Bannerman Energy Ltd(ASX: BMN) shares is up 12% to $3.61.
• Boss Energy Ltd(ASX: BOE) shares is 7% higher to $3.66.
• Deep Yellow Limited(ASX: DYL) shares is up 13% to $1.62.
• Lotus Resources Ltd(ASX: LOT) shares has jumped 15.5% to 31.2 cents.
• Paladin Energy Ltd(ASX: PDN) shares is up 12% to $13.09.
• Peninsula Energy Ltd(ASX: PEN) shares is 5% higher at 10.5 cents.

This won't have gone down well with short sellers given that a number of uranium shares are among the most shorted on the Australian share market.

Why are ASX uranium shares soaring today?

As some readers may be aware, uranium shares have been on a tear recently thanks to partly to news that tech giant Microsoft (NASDAQ: MSFT) is turning to nuclear power to fuel its artificial intelligence (AI) ambitions.

Last month, Microsoft announced a 20-year power purchase agreement with Constellation Energy (NASDAQ: CEG). This agreement paves the way for the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1.

Microsoft's vice president of Energy, Bobby Hollis, said:

This agreement is a major milestone in Microsoft's efforts to help decarbonize the grid in support of our commitment to become carbon negative. Microsoft continues to collaborate with energy providers to develop carbon-free energy sources to help meet the grids' capacity and reliability needs.

Today it has been revealed that Microsoft isn't alone in seeing nuclear power as a clean way to power its data centres, which are facing increased demand due to the emergence of AI. Amazon (NASDAQ: AMZN) has also joined the party.

Amazon embraces nuclear power

According to CNBC, Amazon Web Services plans to invest more than US$500 million in nuclear power.

AWS will explore the development of a small modular nuclear reactor, or SMR, near an existing nuclear power station.

An SMR has a smaller footprint, which allows it to be built closer to the grid, and much shorter construction timelines. This allows them to come online much sooner than a full scale reactor.

The cloud computing business has an increasing need for clean energy as it expands its services into generative AI, and sees nuclear power as its pathway to net-zero carbon emissions.

AWS CEO, Matthew Garman, commented:

We see the need for gigawatts of power in the coming years, and there's not going to be enough wind and solar projects to be able to meet the needs, and so nuclear is a great opportunity.

Also, the technology is really advancing to a place with SMRs where there's going to be a new technology that's going to be safe and that's going to be easy to manufacture in a much smaller form.

All in all, the outlook for uranium and the ASX shares mining the chemical element is looking increasingly positive.

The post ASX uranium shares soar on Amazon news appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is up 5% to $6.60. This follows the release of the regional bank's full year results. Bank of Queensland reported an 8% decline in revenue to $1.6 billion and a 24% decline in cash net profits after tax to $343 million. This led to the bank declaring a fully franked final dividend of 17 cents per share, which is down 19% on the prior corresponding period. While this result doesn't look great on paper, it was ahead of the market's expectations. The consensus estimate was for a cash profit of $328 million in FY 2024.

EBR Systems Inc (ASX: EBR)

The EBR Systems share price is up 7.5% to $1.13. This morning, this medical device company revealed that it has submitted its New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its WiSE CRT System. EBR Systems' WiSE technology is the world's only wireless, endocardial (inside the heart) pacing system in clinical use for stimulating the heart's left ventricle. Management said that this submission is "significant milestone in our final regulatory phase as we move towards FDA approval early next year."

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up over 4% to $4.89. Investors have been buying this gold miner's shares following the release of its first quarter update. Evolution Mining reported gold production of 193,554 ounces for the three months. While this was down 8.7% from the previous quarter, it was ahead of the consensus estimate of 189,000 ounces. And thanks to its low costs and the strong gold price, the ASX 200 gold miner reported operating mine cash flow of $429 million for the period.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is up 2% to 10.2 cents. This has been driven by the release of an update on plant construction and wellfield development activities at its flagship Lance Uranium Project in Wyoming, USA. Management advised that during September and early October, construction activities have continued to advance. As a result, the project remains on track for a production restart in December 2024.

The post Why Bank of Queensland, EBR Systems, Evolution Mining, and Peninsula Energy shares are rising appeared first on The Motley Fool Australia.

The uranium companies in question are Boss Energy Ltd (ASX: BOE), Peninsula Energy Ltd (ASX: PEN), and Bannerman Energy Ltd (ASX: BMN).

Here's what's grabbing investor interest.

ASX uranium stocks in the news

First up, Peninsula Energy.

Shares in the ASX uranium stock are up 2.0% in morning trade on Wednesday after the company released an update on plant construction and wellfield development activities at its flagship Lance Project, located in the US state of Wyoming.

Lance is among the largest independent near-term uranium development projects in the US.

Peninsula reported that construction activities have continued to advance, and Lance remains on track for a production restart in December.

Pre-production operational activities have continued in preparation for the restart of uranium production. Twelve drill rigs are currently operating daily.

The Peninsula Energy share price is up 2% year to date.

Which brings us to Bannerman Energy.

Shares in the ASX uranium stock are down 3.6% today following the release of the company's quarterly report. The Bannerman share price remains up more than 12% in 2024.

Investors are favouring their sell buttons today despite reported development progress at its Etango Uranium Project located in Namibia. Etango is progressing towards a Final Investment Decision (FID).

The miner is also well funded. On 28 June, Bannerman announced that it had successfully raised $85 million via a share issue at $3.30 per share.

The ASX uranium stock had a cash balance of $95.7 million at 30 September, up from $24.0 million the prior year, and no debt.

Commenting on the results, Bannerman executive chairman Brandon Munro said:

Our strong balance sheet and flexible approach to project development enables us to exercise a gated approach to Etango development, with phased green lighting of various construction works in line with advancement across broader project workstreams and financial capacity.

The success of our recent $85 million equity placement delivered us the ability to move into the next phase of early construction and long-lead order activities at Etango, thereby maintaining critical path timelines.

Also grabbing headlines

Also making big news today is S&P/ASX 200 Index (ASX: XJO) listed stock Boss Energy.

The Boss Energy share price is down 3.8% at the time of writing. Shares in the ASX uranium stock are down 19% in 2024.

Investors appear unimpressed with today's update despite Boss announcing more strong drilling results from its 30%-owned Alta Mesa ISR Uranium Project, located in the US state of Texas. enCore Energy Corp owns the other 70%.

According to Boss:

The results of the drilling, which was designed to expand the producing wellfield capacity, continue to significantly exceed the cut-off grade thickness requirements for In-Situ Recovery (ISR) of uranium.

The drilling campaign kicked off in March 2023, with 749 drill holes completed through mid-September this year.

The ASX uranium stock and its JV partner have seven drill rigs operating at Alta Mesa and intend to increase that to 12 over the coming months.

The post Why these 3 ASX uranium stocks are making big news today appeared first on The Motley Fool Australia.

The uranium industry was the standout performer on Monday, with strong gains being recorded across the board.

Let's take a quick look at how a number of uranium miners and developers performed during the session:

• Bannerman Energy Ltd (ASX: BMN) shares rose 12% to $2.67.
• Boss Energy Ltd (ASX: BOE) shares rose 8% to $2.90.
• Deep Yellow Limited (ASX: DYL) shares rose 5% to $1.23.
• Lotus Resources Ltd (ASX: LOT) shares rose 4% to 24 cents.
• Paladin Energy Ltd (ASX: PDN) shares rose 5% to $9.86.
• Peninsula Energy Ltd (ASX: PEN) shares rose 6% to 9 cents.

Why were ASX uranium shares surging?

Investors were scrambling to buy uranium shares in response to news that tech giant Microsoft (NASDAQ: MSFT) is turning to nuclear power to fuel its artificial intelligence (AI) aspirations.

On Friday, Constellation Energy (NASDAQ: CEG) announced that it has signed a 20-year power purchase agreement with Microsoft. This will pave the way for the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1. The latter operated at industry-leading levels of safety and reliability for decades before being shut down for economic reasons five years ago. The CCEC is expected to be online in 2028.

According to the release, under the agreement, Microsoft will purchase energy from the renewed plant as part of its goal to help match the power its data centres in PJM use with carbon-free energy.

This could be big news for ASX uranium shares. A number of tech giants have been criticised for how much power their data centres are consuming to support AI. So, if others follow Microsoft's lead, it could spark a surge in demand for uranium and boost prices.

Constellation Energy's president and CEO, Joe Dominguez, commented:

Powering industries critical to our nation's global economic and technological competitiveness, including data centers, requires an abundance of energy that is carbon-free and reliable every hour of every day, and nuclear plants are the only energy sources that can consistently deliver on that promise.

Before it was prematurely shuttered due to poor economics, this plant was among the safest and most reliable nuclear plants on the grid, and we look forward to bringing it back with a new name and a renewed mission to serve as an economic engine for Pennsylvania.

Microsoft's VP of Energy, Bobby Hollis, adds:

This agreement is a major milestone in Microsoft's efforts to help decarbonize the grid in support of our commitment to become carbon negative. Microsoft continues to collaborate with energy providers to develop carbon-free energy sources to help meet the grids' capacity and reliability needs.

Constellation Energy's shares rocketed 22% on the Nasdaq on Friday evening because of the news.

The post ASX uranium shares surge on Microsoft news appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price is up 3% to $1.18. This may have been driven by a bullish broker note out of Goldman Sachs this morning. According to the note, the broker has retained its buy rating on the gold stock with a trimmed price target of $1.70. It said: "Relative to peers, BGL remains relatively underappreciated in our view, trading at of ~0.85x NAV and pricing ~US$1,600/oz LT gold (peer average ~1.15x NAV and ~US$1,940/oz)."

EML Payments Ltd (ASX: EML)

The EML Payments share price is up 5% to 74 cents. This morning, this struggling payments company revealed that it has completed the sale of its European open banking and account-to-account payments business, Sentenial, to payments processing company GoCardless for 32.75 million euros. EML plans to use the proceeds to retire some debt. This will shift its balance sheet from a net debt position of $48 million to a net cash position of $5 million. Management also advised that it has secured a new $70 million debt facility, which gives it access to further liquidity to fund its growth.

Ora Banda Mining Ltd (ASX: OBM)

The Ora Banda Mining share price is up 4% to 58.2 cents. Investors have been buying this gold miner's shares after it released an update on its Drive to 150 Project. This project is aiming to take the company's annual production to between 140,000 ounces and 160,000 ounces in FY 2026. Management advised: "As mining and drilling progresses at Riverina, our confidence is growing that we are only at the very early stages in unlocking what is presenting as a large and high-grade system."

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is up 2.5% to 8 cents. This morning, this uranium developer released an update on plant construction and wellfield development activities at the company's flagship Lance Project in Wyoming USA. According to the release, site construction and preparation activities are continuing, with solid progress made throughout August. As a result, it is on track with its planned operational restart in late fourth quarter of 2024.

The post Why Bellevue Gold, EML Payments, Ora Banda, and Peninsula Energy shares are charging higher appeared first on The Motley Fool Australia.

Despite market-sensitive announcements for only one company, it hasn't stopped investors from selling down the sector today. Here's the performance on Thursday at the time of writing:

• Paladin Energy Ltd (ASX: PDN): down 3.83%, at $12.92
• Deep Yellow Ltd (ASX: DYL): down 4.73%, at $1.31
• Boss Energy Ltd (ASX: BOE): down 1.92%, at $3.84
• Bannerman Energy Ltd (ASX: BMN): down 1.63%, at $3.02
• Peninsula Energy Ltd (ASX: PEN): flat, at 11 cents apiece

Whilst it's been relatively quiet from the companies' ends, it's worth noting that the energy regulator has potentially ruled out nuclear as the country's energy solution.

The Australian Energy Market Operator (AEMO) has chimed into the debate, and its comments could be one reason investors appear spooked today. Let's take a look.

AEMO's stance on nuclear power

Whilst not market-sensitive in any way, comments by Daniel Westerman, chief executive of the AEMO, could be one factor contributing to the decline in ASX uranium shares today.

According to its website, AEMO's role is to "manage the electricity and gas systems and markets across Australia, helping to ensure Australians have access to affordable, secure and reliable energy".

Speaking at the Clean Energy Summit on Tuesday, Westerman waved off nuclear power as a potential solution to Australia's energy needs. He cited costs and timing as the main reasons.

Even on the most optimistic outlook, nuclear power won't be ready in time for the exit of Australia's coal-fired power stations.

And the imperative to replace that retiring coal generation is with us now.

He labelled nuclear power as "comparatively expensive" and impractical for replacing coal-fired generators in the near term. This may have ramifications on ASX uranium shares.

With coal plants shutting down faster than anticipated, the push for renewable energy sources – like wind and solar – could be the preferred path.

Westerman said AEMO doesn't determine whether one type of energy supply is "good or bad" but is "focused on finding the least-cost path to reliable and affordable energy for Australian consumers".

Apparently, this path of least resistance doesn't include nuclear. This outlook could diminish the near-term prospects for uranium shares.

ASX uranium shares in focus

The overall sentiment in the uranium market has been shaky. Despite some positive developments, including potential supply constraints due to new tax policies in Kazakhstan, investor confidence remains fragile.

Deep Yellow is the only ASX uranium share that actually announced something today. The company posted its presentation from the Noosa Mining Investor Conference.

In it, the company touted its "significant exploration upside" and "significant production capacity". It also discussed the case for uranium as "critical for a clean energy future".

Time will tell if this statement is to be true or not.

Foolish takeout

Some might think the recent dip in ASX uranium shares presents a buying opportunity, especially if they believe in the long-term potential of nuclear energy.

However, the market remains highly volatile, and the political and regulatory situation regarding energy security does not help. As always, stay informed.

The post Why are ASX uranium shares having a week to forget? appeared first on The Motley Fool Australia.

The ASX uranium basket was trading significantly higher today, up around 7-9%. Here is how the main uranium players were faring at the close of trading on Thursday:

• Boss Energy Ltd (ASX: BOE) shares were up 6.13% to $3.98
• Deep Yellow Ltd (ASX: DYL) was trading at $1.49 per share, up 9.16%
• Paladin Energy Ltd (ASX: PDN) shares were 6% higher and swapping hands at $13.98
• Bannerman Energy Ltd (ASX: BMN) at $3.29 per share, up 7.87%.
• Peninsula Energy Ltd (ASX: PEN): Up 4.7% to 11 cents apiece.

What was behind today's rally?

The rally in ASX uranium shares is likely due to a significant announcement on Wednesday from Kazakhstan, the world's largest uranium-producing country.

Kazakh authorities announced a surprise increase in the mineral extraction tax applicable to uranium.

Kazatomprom, Kazakhstan's national operator for the export of nuclear minerals, its subsidiaries, and joint ventures, will pay different mineral extraction tax (MET) rates based on their production volumes and market prices for uranium.

The tax rate will increase to 9% starting in 2025. From 2026, a new tiered system will be implemented, with rates ranging from 4% to 18% depending on production levels.

Additionally, further incremental tax rates will apply if the price of natural uranium concentrate exceeds certain thresholds.

Impact on ASX uranium shares

This move could impact global uranium supply, a bullish sign for uranium prices. BMO Capital analyst Alexander Pearce noted the new tax rates provided "less incentive for Kazatomprom to increase production", according to ZeroHedge.

The new rates are not marginal, thus the new MET penalises large mining assets with potential MET of up to 20.5% (18% for anything over 4ktU, or ~10.4Mlb U3O8, plus an additional 2.5% if the uranium price is >US$110/lb).

Adding to the bullish sentiment, the US Biden administration banned Russian uranium imports back in May. The new law will take effect on August 11 this year.

Russia is a major supplier of global uranium, so what this means for the long-term supply — and price — of the energy commodity remains to be seen.

ASX uranium shares FY25 outlook

The latest price moves extend rallies in the Aussie uranium basket that have been in situ for some months now.

Brokers are also bullish on several ASX uranium shares. For one, Bell Potter has buy ratings on both Boss Energy and Paladin Energy.

For Boss, the broker says its Honeymoon asset "has the capacity to generate strong margins in the current pricing environment", assigning a price target of $5.90 on the ASX uranium share.

This represents 48% upside potential at the time of writing.

Meanwhile, for Paladin, Bell Potter identifies several catalysts behind the stock. These include an increased production estimate at its Langer Heinrich site and the closure of its Fission Uranium site in September.

It valued Paladin at $15.70 per share, a 12.3% upside potential from the time of writing.

Meanwhile, consensus has buy ratings on Bannerman Energy, Deep Yellow and Penninsula Energy, according to CommSec.

Based on these recommendations, analysts' view on the sector is bullish.

Foolish takeaway

Investors are buying ASX uranium shares following a number of market and company updates this year.

Remember that commodities move in cycles, and there are specific considerations associated with investing in commodity-linked companies.

The post Why did ASX uranium shares like Boss Energy have such a bumper day? 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:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 8% to $1.51. This morning, this mineral exploration company released a metallurgical testwork and pre-feasibility study (PFS) update. Management advised that results indicate potential upside for overall metal recoveries. However, cleaner stage tests under locked-cycle conditions are required to quantify the impact. Chalice continues to target a final investment decision in late 2026 and is then aiming to commence production all the way out in 2029. It is also worth noting that most miners are sinking on Tuesday and dragging on the performance of the ASX.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 6% to $13.70. This appears to have been driven by a bleak session for gold on Friday. The precious metal had its worst session in several years at the end of last week. And while it rebounded on Monday, that wasn't enough for investors to stop hitting the sell button today. The S&P/ASX All Ordinaries Gold index is down 5.7% in afternoon trade.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is down 9% to 10 cents. This has been driven by the completion of the retail component of the uranium developer's entitlement offer. It has raised a total of $39.8 million at an offer price of 10 cents per share. This follows the successful completion of a placement which raised approximately $52.9 million and the institutional entitlement offer which raised approximately $13.3 million. In total, the company has now raised A$105.9 million before costs. The proceeds place Peninsula Energy in a strong financial position and is expected to fully fund operations at the Lance Projects through to sustainable free cash flow.

Service Stream Ltd (ASX: SSM)

The Service Stream share price is down 4% to $1.18. This is likely to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the essential services company's shares to a neutral rating, but with an improved price target of $1.30. Macquarie made the move largely on valuation grounds following a strong run since the release of its half year results. Outside its valuation, the broker is positive on the company's outlook.

The post Why Chalice Mining, Northern Star, Peninsula Energy, and Service Stream shares are sinking 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:

BHP Group Ltd (ASX: BHP)

The BHP Group share price is down 2.5% to $45.02. The market has responded negatively to news that the Big Australian has made a third offer for Anglo American plc (LSE: AAL). And while the offer has been rejected, the two parties will continue discussions for another week. Commenting on the rejection, the Anglo American board said: "The Board considered BHP's Latest Proposal carefully, concluded it does not meet expectations of value delivered to Anglo American's shareholders, and has unanimously rejected it." It then adds that it is "willing to continue to engage with BHP and its advisers on this topic and has therefore requested a one week extension to the PUSU deadline which has been consented to by the Panel."

Nufarm Ltd (ASX: NUF)

The Nufarm share price is down over 4% to $4.81. This follows the release of the agricultural chemicals company's half year results. Nufarm reported revenue of $1.8 billion but a statutory net profit after tax of just $49 million. The good news is that a stronger second half is expected. Nufarm CEO, Greg Hunt, said: "Despite challenging conditions, Nufarm delivered a solid result for the first half of fiscal 24. For FY24 we expect EBITDA of between $350 million and $390 million. The mid-point of our guidance implies growth of 25% YoY in EBITDA in the second half of FY24."

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is down almost 7% to 11.2 cents. This uranium miner is in the process of raising funds. Earlier this week, it revealed that strong demand and support was received from both new and existing global institutional and sophisticated investors as part of its fully underwritten $105.9 million equity raising. The retail component of this raising opened this morning. The proceeds are expected to fully fund operations at the flagship Lance Projects to sustainable free cash flow in 2025.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 7.5% to $1.96. Investors have been selling Regis Resources and other ASX gold shares on Thursday following a sharp pullback in the gold price overnight. This has seen the S&P/ASX All Ordinaries Gold index lose almost 4% of its value today.

The post Why BHP, Nufarm, Peninsula Energy, and Regis Resource shares are sinking today appeared first on The Motley Fool Australia.

With many countries seeing nuclear power as the answer to clean energy, the demand outlook for the chemical element has become incredibly positive.

However, this is happening at a time when uranium supply is under pressure due to softer-than-expected production in Kazakhstan, which is the world's largest producer.

In addition, the United States is in the process of banning Russian uranium, which is just adding to the supply issues.

But this is all good news for ASX uranium stocks, which stand to benefit greatly from sky-high prices of the chemical element.

How can you invest in uranium on the ASX?

Fortunately for investors, there are a good number of uranium stocks listed on the ASX.

This includes Alligator Energy Ltd (ASX: AGE), Bannerman Energy Ltd (ASX: BMN), Boss Energy Ltd (ASX: BOE), Deep Yellow Limited (ASX: DYL), Paladin Energy Ltd (ASX: PDN) and Peninsula Energy Ltd (ASX: PEN).

Investors can also choose to invest in exchange-traded funds (ETF) instead to gain exposure to this side of the market.

The Betashares Global Uranium ETF (ASX: URNM) aims to track the performance of an index that provides investors with access to a portfolio of leading companies in the global uranium industry.

As well as local players like Boss Energy and Paladin Energy, you would be buying a slice of giants Cameco Corp (NYSE: CCJ) and Kazakhstan's Kazatomprom.

Which uranium stocks do brokers like?

Given how ASX uranium stocks have rocketed over the last 12 months, investors may be wondering which ones are still in the buy zone.

Well, Bell Potter sees value in Boss Energy's shares. It currently has a buy rating and a $6.35 price target on them, which implies a potential upside of 13% for investors.

Over at Morgan Stanley, its analysts have an overweight rating and a $17.45 price target on Paladin Energy's shares. Though, this offers only a modest upside of approximately 3% from current levels.

Deep Yellow is another ASX uranium stock that Bell Potter likes. It has a buy rating and a $1.90 price target on the Tumas project owner's shares. This suggests a potential upside of 13% is possible for investors from current levels.

Finally, Bell Potter sees the most value in Alligator Energy shares with its buy rating and 10 cents price target. This is over 50% higher than where the uranium stock trades today.

The post How to invest in uranium on the ASX appeared first on The Motley Fool Australia.

In fact, one group of shares is catching the eye with some very strong gains – ASX uranium shares.

Let's take a look at how some of these stocks are performing at lunch today:

• The Bannerman Energy Ltd (ASX: BMN) share price is up 5% to $3.99.
• The Boss Energy Ltd (ASX: BOE) share price is up 4.5% to $5.17.
• The Deep Yellow Limited (ASX: DYL) share price is up 3% to $1.50.
• The Paladin Energy Ltd (ASX: PDN) share price is up 4% to $14.54.
• The Peninsula Energy Ltd (ASX: PEN) share price is up almost 6.5% to 11.7 cents.

As a comparison, the ASX 200 index is down 1.1% at the time of writing.

Why are ASX uranium shares going gangbusters today?

Investors have been snapping up uranium stocks on Wednesday due to news out of the United States.

According to Bloomberg, the Biden administration is considering banning imports of enriched Russian uranium.

The US President's team is rumoured to be planning to use executive authority in congressional efforts to block the Kremlin's shipments of the reactor fuel stall.

The report notes that officials from the White House National Security Council, the Department of Energy, and other corners of the administration have been in talks on limiting Russian uranium imports.

However, sources have told the media outlet that no decisions have been made on the issue at this stage. The Biden administration would reportedly prefer the matter to be handled by Congress. This is because undoing a law is harder than overturning actions done using executive power.

Though, judging by the way ASX uranium shares are surging today, it seems the market believes this could be a done deal.

A statement from the US National Security Council said:

We continue to urge Congress to take that step, which would provide assurance to industry, allies, and partners that the US has made a clear decision to establish a secure nuclear fuel supply chain, independent of adversarial influence, for decades to come.

Is this a big deal?

Given how Russia is a significant producer of the chemical element, it certainly would have a big impact on supply and demand.

Bloomberg notes that Russia provided almost a quarter of the enriched uranium used to fuel the United States' 90 commercial reactors. This makes it the number-one supplier to the country.

And with uranium demand expected to outstrip supply in the coming years, if the United States does ban imports of enriched Russian uranium, it could drive uranium prices even higher than the lofty levels they trade at today.

The post Why are ASX uranium shares going gangbusters 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:

AVITA Medical Inc (ASX: AVH)

The AVITA Medical share price is down almost 11% to $4.02. This follows the release of a first-quarter sales update from the regenerative medicine company. Management advised that it now expects commercial revenue to be in the range of US$11 million to US$11.3 million for the quarter. This compares to its previous guidance of US$14.8 million to US$15.6 million. The revision in guidance is attributable to a slower-than-expected conversion rate of new accounts for its expanded label of full-thickness skin defects.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is down 5% to $19.24. This seems to have been driven by weakness in the tech sector today which has offset the release of the investment platform provider's quarterly business update. In respect to the latter, Netwealth's funds under administration (FUA) increased by $6.7 billion during the quarter to $84.7 billion. This comprises FUA net inflows of $2.7 billion and positive market movement of $4 billion.

Peninsula Energy Ltd (ASX: PEN)

The Peninsula Energy share price is down almost 7% to 11.2 cents. This morning, the uranium developer announced that Samuel Engineering has been appointed as contractor for engineering, procurement, and construction services for the expansion of the Ross Central Processing Plant at the Lance Uranium Project. Peninsula has also increased its funding requirement for the project to US$100 million. This is up US$5 million from previous estimates and compares to its current cash balance of US$49.6 million.

Zip Co Ltd (ASX: ZIP)

The Zip Co share price is down 5.5% to $1.30. This is despite there being no news out of the buy now pay later provider on Thursday. However, it is worth noting that the tech sector is under pressure today amid concerns that interest rate cuts could be some way off after the hotter-than-expected inflation reading in the United States. In addition, Zip's shares have been on fire recently, so profit-taking could be happening today. For example, the Zip share price remains up over 100% since the start of the year. This has been driven by its significantly improved operational performance.

The post Why Avita Medical, Netwealth, Peninsula Energy, and Zip shares are sinking today appeared first on The Motley Fool Australia.