Two exciting ASX uranium shares get big price upgrade by broker

ASX uranium shares are in the spotlight as uranium prices reach 7-year highs. Uranium traded as low as US$20 (AU$27) per pound in the aftermath of the tsunami-driven meltdown at Japan’s Fukushima nuclear power plant on 11 March 2011. Today the spot price has more than doubled, to just over US$40 per pound. This has clearly offered a welcome tailwind to leading ASX uranium shares, like Paladin Energy Ltd (ASX: PDN) and Boss Energy Ltd (ASX: BOE) .

The Paladin share price is up 571% over the past 12 months. And this for a company with a market cap of $2.3 billion.

Mid-cap competitor Boss Energy’s shares have soared 250% higher over that same time. Why are uranium prices rising?

Analysts broadly point to 2 forces working to push uranium prices higher.First, uranium fuelled nuclear power emits a tiny amount of carbon compared to fossil fuel fired power plants. And they […]

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