Cleary is the portfolio manager of listed investment company (LIC) Tribeca Global Natural Resources Ltd (ASX: TGF).

In an interview with Livewire, Cleary said he was "very bullish" on uranium shares. 

What's happening with ASX uranium shares?

Cleary said uranium shares have lost value recently but are well-positioned for a big future. This is especially because several governments have recently approved the commodity for energy generation.

Cleary said:

Uranium correlates very well with other energy commodities, whether it's gas or coal or oil — as it should do because it's obviously competing as an alternative energy source. 

However, year to date, uranium equities are down materially and have completely decoupled with the other energy groups for no really good reason at all.

In fact, they've been correlating more with cryptocurrencies and digital assets, for whatever reason.

Cleary expects to see this trend rapidly reverse course in the next few months. As a result, he reckons most ASX shares in the uranium space have a 30% to 50% upside from here.

He added:

The European Union has just approved uranium as an approved energy source. The American government are very supportive of nuclear generation. So is China. 

So uranium has a really strong governmental backing as a baseload energy source given it produces lower carbon emissions versus other fossil fuels going forward.

Uranium shares have declined in 2022 due to rising concerns about recession, as well as China's strict COVID-19 policy.

Which ASX uranium share is a buy?

Cleary's pick of the bunch is Boss Energy Ltd (ASX: BOE).

Boss Energy is one of the larger ASX shares in the uranium sector with a market capitalisation of $853.24 million. It holds interests in the Honeymoon uranium project in South Australia. It also holds interests in nickel-copper exploration projects in Scandinavia as well as gold interests in Burkina Faso.

The Boss Energy share price is up 1,300% over the past 12 months (yep, you read that right). But in the year to date (ytd), it has declined by 2%.

Here is a summary of the performance of the other big players in the uranium space:

• The Paladin Energy Ltd (ASX: PDN) share price is up 44% over 12 months and down 21% ytd
• The Energy Resources of Australia Limited (ASX: ERA) share price is down 4% over 12 months and down 29% ytd
• The Silex Systems Ltd (ASX: SLX) share price is up 243% over 12 months and up 143% ytd
• The Bannerman Energy Ltd (ASX: BMN) share price is up 33% over 12 months and down 27% ytd
• The Deep Yellow Limited (ASX: DYL) share price is up 10% over 12 months and down 18% ytd

The post The ASX shares with 30% to 50% upside: fundie appeared first on The Motley Fool Australia.

Shares in the Aussie gold miner have rocketed 22.8% but many think it could be headed higher.

Global gold prices have smashed the US$2,000 per ounce barrier and continue to reach new record highs.  Fears over coronavirus and rising inflation have driven the precious metal's recent rise.

That's good news for ASX gold shares like Newcrest and Saracen Mineral Holdings Limited (ASX: SAR).

But can the Newcrest share price beat it's current 52-week high and continue climbing in 2020?

Why one leading fundie likes the Newcrest share price

Fund manager Tribeca Global Natural Resources Ltd (ASX: TGF) is certainly bullish on the ASX gold share.

That's according to an article in the Australian Financial Review (AFR) quoting Tribeca's head of research, Todd Warren.

Mr Warren touched on many of the big themes driving gold prices higher. That includes the strong money supply and government stimulus, as well as a prolonged period of low interest rates.

According to the article, Tribeca is bullish on the Newcrest share price with some "exciting results" out of an exploration prospect.

There are other ASX gold shares on the investment manager's buy list. That includes Saracen shares after the miner's Super Pit acquisition late last year.

That asset, joint-owned with Northern Star Resources Ltd (ASX: NST), could prove to be a masterstroke.

With gold prices rocketing past US$2,000 per ounce, Saracen may have purchased that stake for an absolute steal.

Tribeca believes the Aussie miner can "strip out costs" from the Kalgoorlie site and generate strong returns.

Should you buy ASX gold shares?

The Newcrest share price currently trades at a price-to-earnings (P/E) ratio of 36.1. That's certainly cheaper than the 44.9 multiple that Saracen shares currently trade at.

Clearly, Tribeca and other leading fundies are bullish on ASX gold shares like Newcrest.

I personally won't be buying in, but I can see the appeal for tactical investors. I think a small allocation to gold shares could be a good hedge in the current market.

However, other companies with defensive earnings like Coles Group Ltd (ASX: COL) could also help protect against the downside this year.

The post Why this leading fundie likes the Newcrest share price appeared first on The Motley Fool Australia.