- The ASX-listed uranium shares have been among the top performers so far in 2021.
- Leading players such as Paladin Energy Ltd, Boss Energy Ltd, and Deep Yellow Limitedhave surged as high as 93% since the start of the year.
- In the last 12 months, All Ordinaries Index has advanced by 7%.
The ASX-listed uranium shares have been among the top performers so far in 2021. Leading players such as Paladin Energy Ltd (ASX:PDN), Boss Energy Ltd (ASX:BOE), and Deep Yellow Ltd (ASX:DYL) have surged as high as 93% since the start of the year. The stocks of Paladin Energy and Deep Yellow have soared over 415% and 240% in the last 12 months. The only exception is Energy Resources Australia Ltd (ASX:ERA) which fell over 30% this year.
In the last 12 months, All Ordinaries has advanced by 7%.
Source: © Oxygen64 | Megapixl.com
What is driving the uranium shares in 2021?
The global demand for uranium, which is a zero-emissions generator, is on rise as the countries move away from carbon-based fuels. Even the institutional funds are increasing their exposure to the sector.
Along with uranium, other commodities such as lithium, copper and platinum is in demand especially in China and US.
Australia has two operating uranium mines. BHP Group Ltd (ASX:BHP) owned Olympic Dam mine and General Atomic’s Beverley and Four Mile mine situated in South Australia. With Boss Energy also announcing that it has all permissions to resume operations, experts are of the view that uranium’s production may increase in the coming future in Australia.
Source: © Bridgetjones | Megapixl.com
On Thursday, 6 May 2021, the Paladin shares closed 7.22% higher, Energy Resources shares settled higher 4.5%, Boss Energy closed higher 5.56%, and the Deep Yellow share price was 13.2% higher. Compared to 12 months ago period, Paladin is up nearly 359%, Boss Energy is 172% higher, and Deep Yellow is nearly 183% higher year.