Surge in Uranium Stocks Boosts ASX as Energy Sector Rises

April 29, 2025 08:10 PM AEST | By Team Kalkine Media

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Surge in Uranium Stocks Boosts ASX as Energy Sector Rises — Image source: shutterstock

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Highlights:

Uranium stocks gain momentum following tariff exemption news from the US administration.

Small cap stocks such as Boss Energy lead the pack with significant gains.

ASX broader market sees positive movement with the energy sector outperforming others.

Uranium stocks have seen a notable increase in value as news emerged that the US administration would include uranium in an upcoming list of tariff exemptions. This announcement has provided a boost to ASX-listed uranium producers, with several stocks experiencing significant gains.

Energy Sector Leads the Charge on ASX

The energy sector was one of the top performers on the ASX, rising by more than two percent. Alongside energy stocks, sectors such as utilities, information technology, resources, and real estate also registered strong growth, each climbing by over one percent. This upward movement in the energy sector has played a central role in driving broader market gains on the ASX.

Strong Gains in Uranium Stocks

Boss Energy (ASX:BOE), a uranium producer with its Honeymoon project in South Australia, saw its stock price jump by more than thirteen percent, marking it as one of the top performers on the ASX for the day. The company has indicated it expects to produce a significant amount of uranium by the 2025 financial year, further attracting investor interest.

In addition to Boss Energy, other uranium producers also experienced strong stock price movements. Companies such as Energy Resources of Australia (ASX:ERA) and Bannerman Energy (ASX:BMN) registered impressive percentage gains, with micro-cap stocks like Connected Minerals (ASX:CML) also outpacing larger counterparts in terms of percentage growth.

Smaller Uranium Companies Stand Out

Smaller companies like Connected Minerals and Energy Resources of Australia have gained significant attention from investors in light of the positive momentum in the uranium sector. Connected Minerals, for example, saw a remarkable 45% rise in its stock price, while Energy Resources of Australia followed closely behind with a gain of over 30%. Other companies like Lotus Resources (ASX:LOT) and Deep Yellow (ASX:DYL) also saw strong growth, further highlighting the bullish sentiment surrounding uranium stocks.

Market Impact and Commodity Trading

The surge in uranium stocks has led to broader optimism in the ASX market, which rose by nearly one percent on the back of the energy sector’s strong performance. However, it remains unclear how these stock movements will affect the underlying price of uranium itself. Unlike other commodities, uranium is traded directly between producers and end-users in private long-term contracts, making its market price more opaque compared to other freely traded commodities.

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