Two exciting ASX uranium shares get big price upgrade by broker

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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