Leading ASX-listed uranium stocks in focus today

Highlights: 

• The S&P/ASX 200 opened was quoted 0.46% lower at 6,794.90 points at 10:13 AM AEST on 7 September 2022.
• Sectors were quoted mixed as 9 out of 11, were lower. Energy sector was seen buzzing in green zone, up 2.20% at 10:15 AM AEST.

The S&P/ASX 200 opened on a negative note on Wednesday (7 September 2022). At 10:15 AM AEST, the index was at 6,794.90 points, down 0.46%. Majority of the significant sectors under the ASX 200 index were lower. However, the S&P/ASX 200 Energy sector was seen performing well, up 2.20% at 10:15 AM AEST.

The S&P/ASX 200 Energy sector (INDEXASX:XEJ) closed at 11240.6 points after gaining 56.3 points or 0.503% on Tuesday (6 September 2022). 

Here in this article, we have primarily discussed about the performance of five leading ASX-listed uranium stocks such as: 

• Paladin Energy Ltd (ASX:PDN)- with a market capitalisation of AU$2.68 billion. 
• Boss Energy Ltd (ASX:BOE)- with a market capitalisation of AU$983.69 million. 
• Energy Resources of Australia Limited (ASX:ERA)- with a market capitalisation of AU$922.84 million. 
• Lotus Resources Limited (ASX:LOT)- with a market capitalisation of AU$338.25 million.  
• Berkeley Energia Limited (ASX:BKY)- with a market capitalisation of AU$151.57 million. 

Paladin Energy Ltd (ASX:PDN) 

Leading uranium explorer Paladin Energy Ltd (ASX:PDN) shares were quoted at AU$0.892 apiece, down 0.833% at 10:15 AM AEST today. The stock had closed 7.784% higher yesterday.  

In last one year, Paladin’s share price has gained 6.19% on ASX. On the contrary, its year-to-date fall is 6.11%.

Boss Energy Ltd (ASX:BOE) 

Shares of the notable uranium developer, Boss Energy Ltd (ASX:BOE), opened 2.51% up at AU$2.86 a share on Wednesday. The stock had closed 7.307% stronger on Tuesday too. The company is primarily involved with the development of uranium at its 100%-owned Honeymoon Project in South Australia. 

Recently, the S&P Dow Jones Indices has announced that Boss Energy Ltd has been added to the ASX 300 index after a thorough quarterly review in September 2022. As per S&P Dow Jones Indices, the addition will be effective from 19 September 2022, Monday.

Boss Energy, on 6 September, announced a significant progress at its wholly-owned uranium project- Honeymoon Project in South Australia. The company revealed that it had made prominent progress in wellfield development, along with camp and infrastructure service and procurement at the project. 

At present, the company is focused on wellfield drilling. Boss has already completed drilling and casing of the first 12 of the 86 pre-planned wells successfully. The contractors at the wellfield construction have already initiated the testing and inspection of the project. 

The company has also made rapid progress in securing approval for site accommodation, and has completed the refurbishment of 80 rooms now completely in use. The remaining of the camp services have been granted, allowing the camp management contract for camp services. These services include messing, laundry and maintenance. The company is likely to award the contract to the successful tenderer in the next month.

During the last 12 months, Boss Energy’s share price has appreciated significantly by 1091.67% on ASX. Furthermore, Boss Energy’s YTD-based share price gained by almost 17% on ASX (as of 10:18 AM AEST).

Image source: © Ingalina | Megapixl.com

Energy Resources of Australia Limited (ASX:ERA) 

Australian uranium mining giant Energy Resources of Australia Limited (ASX:ERA) shares were quoted 2% stronger at AU$0.26 per share at 10:19 AM AEST today. The stock had ended Tuesday’s trading session on a negative note.

Energy Resources recently released its half-yearly results for the period ended on 30 June 2022. The highlights of ERA’s half-yearly results: 

• The company reported a total sales volume of 242 tonnes in the given period, including the final sale of uranium oxide inventories in May 2022. 
• The company’s net loss after tax in the given period was AU$34 million. It reflected lower sales volume compared to higher non-cash costs. 
• In its half-yearly result, ERA reported a cash outflow of AU$34 million in the same period. The company reported an expenditure of AU$80 million on rehabilitation costs in H1FY22. 

Over the last 12 months, Energy Resources’ share price has marked a loss of over 23% on ASX. Furthermore, the uranium miner’s YTD-based share price fell by almost 25% on ASX as of 10”19 AM AEST on Wednesday.

Lotus Resources Limited (ASX:LOT) 

Shares of Lotus Resources Limited (ASX:LOT) opened 3.57% lower at AU$0.27 per share on ASX today. The stock had ended 16.666% stronger on Tuesday. Lotus is primarily involved with the exploration and development of uranium resources in Malawi.

Last week, Lotus announced that it has successfully completed the placement of shares to raise AU$25 million. The company has placed each share at AU$0.24. 

The company also mentioned that this placement was highly supported by both domestic and international investors, reflecting their strong interest in Lotus’ Kayelekera Uranium Project in Malawi.

The funds raised from the placement, along with the company’s existing cash reserve, will be used:

• For future developments of the Kayelekera Project, including finalising the Mine Development Agreement (MDA), executing offtake negotiation, Front End Engineering Design (FEED) and finalising project finances before the Final Investment Decision (FID).
• For supporting the final instalment of rehabilitation bond repayment to Paladin Energy Limited in March 2023.
• For covering general maintenance and corporate costs for at least 18 months (2024).

In last 12 months, Lotus’ share price has gained 28.57% on ASX. On the other hand, the company’s YTD-based share price declined by 15.62% as of 10:25 AM AEST, 7 September 2022.

Berkeley Energia Limited (ASX:BKY) 

Australia-based uranium explorer and developer Berkeley Energia Limited (ASX:BKY) shares were quoted flat at AU$0.34 per share at 10:26 AM AEST on ASX today. 

In last one year, Berkeley’s share price has declined by almost 3% on ASX. On the contrary, Berkeley’s YTD-based share price marked a gain of over 41.67% on ASX as of 10:26 AM AEST on 7 September 2022.