ASX uranium shares boom to multi-year highs, bull market is just getting started: analyst

ASX uranium shares boom to multi-year highs, bull market is just getting started: analyst

ASX uranium shares are going nuclear after uranium spot prices jumped to 9-year highs of US$48/lb according to S&P Global Platts. A month ago, uranium was fetching for just ~US$30/lb. ASX uranium shares going parabolic

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN) has surged 115% to fresh 9-year highs in the past month. The gains have tricked all the way down to small cap explorers such as 92 Energy Ltd (ASX: 92E) and Peninsula Energy Ltd (ASX: PEN) , which have both more than doubled since August.

Even after a 60% jump in uranium prices, some analysts think that the uranium market has more legs to run. What’s driving uranium?

The recent jump in ASX uranium shares and spot prices has largely been driven by Sprott Inc’s Physical Uranium Trust, listed on Canada’s Toronto stock exchange.The fund has been actively buying physical uranium off the spot market, […]

About the author: StockMan

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