Paladin Energy, Boss Energy, Deep Yellow: What is keeping these uranium shares higher?

Summary

  • 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.  

READ MORE: Commodity Market at Multi-Year Highs, 10 Hot Stocks to look at

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.

READ MORE: Three ASX gold stocks to mull over in wake of Janet Yellen’s inflation remark

 

Source: © Bridgetjones  | Megapixl.com

Stock performance

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.

READ MORE: Three ASX-listed retail shares going great guns in 2021


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK