The uranium market increased in 2023 and continues to perform strongly in 2024. In this post, you will find the top uranium stocks on the ASX.
More than 50 companies listed on the ASX are involved in uranium mining or are related to uranium production.
Let’s take a quick look at uranium stocks on the ASX, which have the potential for significant gains in 2022.
What is the best uranium stock (ASX) to buy?
| Top Uranium Stocks (ASX) | ASX Code |
| Peninsula Energy | ASX: PEN |
| Paladin Energy | ASX: PDN |
| Energy Resources Of Australia | ASX: ERA |
| Core Lithium Ltd | ASX: CXO |
| Anson Resources Ltd | ASX: ASN |
| Peninsula Energy | ASX: PEN |
| A-Cap Energy Ltd | ASX: ACB |
Top Uranium Stocks ASX 2022
Let’s examine future price predictions for ASX-listed uranium stocks to help you determine whether investing in uranium stocks is a good decision.
Peninsula Energy (ASX: PEN)
PEN is a dedicated uranium mining company operating two primary projects: the Lance Uranium Project in the USA and the Karoo Uranium Project in South Africa. While both projects generate revenue, the Lance project is the more profitable of the two.
At the time of writing, PEN was trading at AUD 0.20, with a 52-week range of AUD 0.10 to AUD 0.35. According to Morningstar, the quantitative fair value for ASX: PEN is AUD 0.37. This indicates the possibility of a significant increase in 2022.
Paladin Energy (ASX: PDN)
PDN, Australia’s largest uranium producer listed on the ASX, operates out of Western Australia and manages many projects around the world. These projects are primarily located in South Africa, Australia, and Namibia at their flagship Langer Heinrich mine. As of now, PDN’s stock price is AUD 0.78, with a 52-week range between AUD 0.36 and AUD 1.35.
According to Morningstar’s quantitative assessment, the fair value of ASX: PDN under current market conditions is AUD 0.92. This suggests that in 2022, the stock could rise significantly if investors return to uranium stocks.
Energy Resources Of Australia (ASX: ERA)
The company is involved in the mining, processing, and sale of uranium oxide. ERA is in charge of managing and running the Ranger Uranium Mine in Darwin, Northern Territory. So far, ERA’s stock price is AUD 0.34, with a 52-week range between AUD 0.19 and AUD 0.58. According to Morningstar’s quantitative fair value estimate, ASX: ERA has a fair value of AUD 0.41.
Core Lithium Ltd (ASX: CXO)
Core Lithium had a stellar performance in 2021 and will continue to dominate its industry in 2022. Primarily, CXO is a lithium producer, but they are also involved in uranium mining through the Fitton Uranium Project in South Australia. As of now, CXO’s stock is trading at AUD 1.02, with a 52-week range between a low of AUD 0.21 and a high of AUD 1.11.
According to Morningstar, they estimate that the fair value of ASX: CXO is AUD 1, a value that CXO has already reached. As someone who believes in CXO and owns shares in the company, I predict that the price of CXO will exceed $1.50 by the end of 2022.
Anson Resources Ltd (ASX: ASN)
The company relaunched in 2009, focusing on several resources, including copper, lithium, and nickel. They are also involved in uranium projects, one notable of which is the Yellow Cat Vanadium-Uranium Project.
As I write this, the price of ASN is currently trading at AUD 0.11. Over the past year, it has ranged from a low of AUD 0.04 to a high of AUD 0.18. According to Morningstar, they estimate ASX: ASN’s fair value to be 0.17 AUD. Hence, looking at 2022, ASN is likely to cross its previous high and reach a new peak.
A-Cap Energy Ltd (ASX: ACB)
Another uranium company listed on the ASX is gaining popularity. They have been experiencing steady growth recently, with their main uranium mine being the Little hakane Uranium Project in Botswana. Currently, their stock is trading at AUD 0.12, with a high of 0.19 cents and a low of 0.043 cents. According to Morningstar Quantitative, the stock has a fair value of 0.20 cents. Hence, it will be interesting to see in 2022 whether it can reach this reasonable price or even surpass its 52-week high.
Thoughts of an ASX investor about uranium stocks
Frequently Asked Questions: Uranium Stocks (ASX)
Will uranium stocks rise?
Yes! More and more people want uranium these days, and there may not be enough to go around. This means that the price of uranium stockpiles may increase in 2022.
Is uranium a good investment in 2022?
Yes, we are quite bullish on uranium reserves. Let’s hope for the best. Visit our website for the best uranium stocks.
Is there a uranium ETF?
There aren’t many ETFs that invest in uranium, but you can take a look at the VanEck Vectors Uranium+Nuclear Energy ETF (NLR).
Is uranium a good investment?
Yes, uranium is a good investment tool that can give you many benefits so invest in it.
Who is the biggest uranium miner?
As of my last update, Chemico Corporation is one of the largest uranium miners globally.
Is uranium a good investment in 2024?
By 2024, whether uranium is a good investment depends on various factors such as market conditions, geopolitical dynamics, and the global energy landscape. Although uranium has historically been a volatile investment due to factors such as regulatory changes and changes in demand, some investors are considering it due to its role in nuclear energy production and growing interest in carbon-neutral energy sources. See it as a potential opportunity. However, it is important to do thorough research and consider the risks before investing in uranium or any other commodity.
Conclusion: Uranium Stocks ASX
Overall, in the above post, we discussed uranium reserves and shared our insights on uranium from 7 different Australian mining companies, and finally, we answered some popular questions. A general questionnaire was given.
