ASX energy stocks focused on coal, gas, and oil have offered investors some outsized returns over the past year.

The fossil fuel energy shares have benefited from rocketing prices as much of the world scrambles to replace Russian supplies, restricted following Russia's invasion of Ukraine.

But what about ASX energy shares digging up a different source of power?

Yes, I'm talking about ASX uranium stocks.

How have these alternate ASX energy stocks been tracking?

Over the past 12 months, only one of the four leading uranium miners is in the green.

Here's how their share prices have moved since this time last year:

• The Paladin Energy Ltd (ASX: PDN) share price is down 20%
• Bannerman Energy Ltd (ASX: BMN) shares are down 25%
• The Deep Yellow Limited (ASX: DYL) share price has lost 24%
• Boss Energy Ltd (ASX: BOE) shares are up 3%

However, 2023 is looking more promising for these alternative ASX energy stocks. That's partly due to a 6% increase in the uranium price since 1 January, currently at US$51 per pound.

Here's how these companies have performed since the opening bell on 3 January:

• The Paladin Energy share price is up 5%
• Bannerman Energy shares are up 3%
• The Deep Yellow share price is down 3%
• Boss Energy shares are up 26%

Could uranium stocks be the next ones to rocket?

While the global demand for uranium isn't going to soar overnight, the trend is certainly pointing to long-term growth.

And investors with longer-term horizons could well help bid up ASX energy stocks focused on uranium in the lead-up to forecast increases in demand.

Even the Japanese look to be overcoming their fear of nuclear power. Those fears were stoked by the 2011 Fukushima Dai-ichi power plant disaster. The facility suffered a meltdown in the aftermath of an earthquake-driven tsunami.

That saw all of Japan's 54 reactors shut down for safety inspections.

Today, only 33 of those reactors remain in operable condition, and only 10 of those are up and running.

According to a report by Bloomberg, those 10 plants produce roughly 10% of Japan's electricity needs.

And in what could be good news for ASX energy stocks digging up uranium, a survey by Japanese publication Asahi Shimbun indicates that 51% of Japanese people now are in favour of restarting the idle reactors, with 42% opposed. That's the first time a majority has supported the move since the paper commenced polling in the wake of the meltdown.

Now, it's unlikely Japan will fire up all of its idle reactors overnight. Or even this year.

But prime minister Fumio Kishida is among those in favour of nuclear power. Atop extending the lifespan of existing plants, Japan is also looking into building next-generation reactors.

And it's not just Japan eyeing a big lift in nuclear power.

ASX energy stocks producing uranium could also see increased demand from France and Germany. Both nations are now considering extending the life spans of their own reactors, rather than shuttering them early.

The United Kingdom is going a step further, with ambitious plans to build a series of new modular reactors.

Then there's China, which has some 17 large-scale nuclear power stations under construction.

Again, this is a long-term trend.

But with Australia having the world's largest proven uranium reserves, ASX uranium shares are well-positioned to take advantage of the growing global interest in nuclear energy.

The post Could these be the next ASX energy stocks to rocket? appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) has continued its positive form on Thursday. In afternoon trade, the benchmark index is up 0.2% to 7,515.4 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Centuria Office REIT (ASX: COF)

The Centuria Office REIT share price is up 7% to $1.74. Investors have been buying this property company's shares following the release of its half year results. While Centuria Office reported an 11% decline in funds from operations to $48.6 million, this appears to have been better than the market was expecting. The company also declared a 7.05 cents per share interim distribution, which was in line with its guidance.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 6% to 81 cents. This has been driven by the release of an update on the definitive feasibility study (DFS) of its Tumas uranium project in Namibia. Management advised that the study is now complete and has resulted in increased production capacity and throughput.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest Mining share price is up 3.5% to $23.07. This has been driven by a strong rise in the gold price today after the market started to bet on US interest rates not rising as much as feared. This has led to the S&P/ASX All Ordinaries Gold index rising almost 4% this afternoon.

Xero Limited (ASX: XRO)

The Xero share price is up almost 8% to $82.68. Investors have also been flooding back into the tech sector again thanks to lower interest rate expectations. It isn't just Xero rising today. The S&P/ASX All Technology Index is up 3.6% at the time of writing.

The post Why Centuria Office, Deep Yellow, Newcrest, and Xero shares are racing higher today appeared first on The Motley Fool Australia.

S&P/ASX 300 Index (ASX: XKO) uranium share Deep Yellow Ltd (ASX: DYL) is charging higher today.

Shares in the uranium miner were up 7.8% in earlier trade today and remain up 5.5% at the time of writing.

Here's what's driving investor interest in the ASX 300 uranium share.

What did Deep Yellow report?

The Deep Yellow share price is soaring after the miner reported that its "highly positive" Definitive Feasibility Study (DFS) at its Tumas uranium project in Namibia has been completed.

Deep Yellow noted that the DFS, compared to the earlier Pre-Feasibility Study (PFS), resulted in increased production capacity of its plant from 3 Mlbpa of uranium (U3O8) to 3.6 Mlbpa U3O8, a 20% increase. The plant's throughput also increased by 11% from the PFS, to 4.15Mtpa from the prior 3.75Mtpa.

Atop uranium, the DFS indicated annual production capacity of 1.15 Mlb V2O5, a vanadium by-product.

Based on existing ore reserves, the project Life of Mine (LOM) currently stands at 22.25 years. But the ASX 300 uranium share expects that to increase to 30-plus years amid additional future resources.

Commenting on the DFS results, CEO John Borshoff said:

We believe this is a very robust DFS and underscores the value of our conviction to apply effort in contrarian fashion, with a proven team, to discover the expanded Tumas Project that now demonstrates its potential to be a long-life, world-class uranium operation.

Importantly, we have used appropriate assumptions and our costings are highly accurate, having been largely based on quotes received in the last quarter of 2022 and in January 2023, resulting in a very realistic outcome against the inflationary and supply headwinds that have hit the mining sector.

Borshoff expects Deep Yellow's application for a Mining Licence will be granted by mid-2023. The company is awaiting the Environmental Impact Assessment and approval by the authorities.

On the sustainability front, Borshoff added:

We intend for Tumas to be a best-in-breed uranium operation with world-leading extractive technologies and sustainability initiatives applied, including a specific process route that will produce a benign tailings stream to allow for the eventual safe closure and rehabilitation.

Deep Yellow said it will now focus on detailed Front End Engineering and Design, project financing, and product offtakes ahead of a Final Investment Decision expected in the first half of 2024.

How has this ASX 300 uranium share been tracking?

As you can see in the below chart, the Deep Yellow share price is off to a cracking start in 2023, up 16%.

The post ASX 300 uranium Deep Yellow share just surged 7%. Here's why appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up 4% to 58.2 cents. Investors have been buying this lithium developer's shares after it provided an update on the Rincon Lithium Project in Argentina. According to the release, current commissioning works have produced a battery quality 99.76% lithium carbonate product. This was achieved during part of the overall development towards commencing the 2,000tpa lithium carbonate operation.

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price 4.5% to 46 cents. This may have been driven by bargain hunters swooping in after recent share price weakness. Prior to today, the rare earths developer's shares were down approximately 17% in the space of a week.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 7% to 74 cents. This uranium developer's shares were already racing higher prior to the release of a positive announcement this afternoon. That announcement reveals that it has completed its two-stage, 10,000m follow-up reverse circulation drill program at the Omahola project, with positive results delivered and new targets identified.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up 5% to $57.17. Investors have been buying this health imaging technology company's shares after it signed a $15 million seven-year deal with Luminis Health. Pro Medicus' technology will replace legacy PACS throughout the Luminis Health network. Management also revealed that its pipeline remains strong and spans all market segments.

The post Why Argosy Minerals, Arafura, Deep Yellow, and Pro Medicus shares are charging higher appeared first on The Motley Fool Australia.

Though 2023 could present a different picture.

Soaring fossil fuel prices have sent the S&P/ASX 200 Energy Index (ASX: XEJ) up 39% year to date.

Yet most ASX uranium shares remain in the red.

For example, in 2022:

• The Paladin Energy Ltd (ASX: PDN) share price is down 7%
• Bannerman Energy Ltd (ASX: BMN) shares are down 35%
• The Deep Yellow Limited (ASX: DYL) share price has lost 27%
• And Boss Energy Ltd (ASX: BOE) shares have fallen 2%

Now, it's worth noting that all of the ASX uranium shares named above enjoyed very strong share price gains in 2021. Paladin shares, as one example, soared 267% over the full year. So a bit of a pause or retrace this year wasn't entirely unexpected.

But with nations across the world revisiting nuclear power as a reliable baseload source with negligible carbon emissions, ASX uranium shares could shine brightly again in 2023 and the years ahead.

Could this new UK plan help boost ASX uranium shares?

The United Kingdom doesn't make the list of nations with the most nuclear power plants in the pipeline. That honour goes to China, which has some 17 large-scale nuclear power stations under construction.

However, the UK is eager to extricate itself from the global energy crisis while moving away from coal and gas-fired power.

As The Times reports, Business secretary Grant Shapps is this week expected to announce the proposed creation of a new body called Great British Nuclear.

Great British Nuclear intends to develop 20 to 30 small modular nuclear reactors, built by Rolls-Royce.

The modular reactors are significantly cheaper to develop than traditional large-scale plants, with each reported to be able to power a million homes.

Australia's uranium trove

On completion, the modular reactors will need uranium to provide that power, as will the score of large-scale reactors being constructed in China and other nations the world over.

And with Australia sitting on the world's largest proven uranium reserves, ASX uranium shares could see the good times of 2021 come knocking once more.

The post Could this new UK plan help boost ASX uranium shares in 2023? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price is down a whopping 28% to $1.00. Investors have been hitting the sell button in a panic today after an abject trading update from the plus sized fashion retailer. City Chic reported a decline in sales despite benefiting from a weaker Australian dollar. It also revealed significant margin pressures and expectations that it would end the first half with an inventory position of $168 million to $174 million. City Chic's market capitalisation is currently $230 million.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is down 3.5% to 68.5 cents. This follows the release of an update on the Tumas project in Namibia. The uranium developer has completed its DFS, with the preliminary results indicating that the project remains "commercially attractive despite capital and cost inflation." While positive, investors may have been hoping for more bullish rhetoric.

Objective Corporation Limited (ASX: OCL)

The Objective Corp share price is down 14% to $12.93. This follows the release of a trading update from the technology solutions company after the market close on Thursday. Objective Corp revealed that its shift to a SaaS business is impacting revenue growth and higher costs are squeezing its margins.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 7% to $4.45. Investors have been selling Pilbara Minerals and other battery materials shares today amid concerns over the outlook for lithium prices. This follows bearish notes from Credit Suisse and Goldman Sachs, as well as soaring COVID cases in the key China market.

The post Why City Chic, Deep Yellow, Objective Corp, and Pilbara Minerals shares are falling appeared first on The Motley Fool Australia.

In afternoon trade, the uranium developer's shares are down 2% to 76.5 cents.

The good news, though, is that one leading broker believes this weakness could be short-lived.

What's being said about the Deep Yellow share price?

According to a note out of Bell Potter, its analysts have initiated coverage on the company's shares with a speculative buy rating and $1.05 price target.

Based on the current Deep Yellow share price, this implies potential upside of 37% for investors over the next 12 months.

The broker made the move on the belief that the company's shares are trading at a bargain level in comparison to other ASX uranium shares. Particularly given its recent merger with Vimy Resources, which gives the company two significant uranium projects. The broker commented:

We initiate coverage on DYL with a Speculative Buy rating and a $1.05/sh valuation, following their successful merger with former ASX uranium developer Vimy resources (VMY – delisted). The combined entity boasts two advanced projects in the Tumas Uranium Project (TUP) and the Mulga Rock Project (MRP), with over 390mlbs in Mineral Resources, a pathway to +6mlbs annual production and an experienced team with a track record of developing uranium projects.

DYL trades on a $1.24 Enterprise Value $/lb of Resource basis, representing a 77% discount to ASX uranium peers. We estimate DYL could be producing at TUP by the end of 2025 with MRP following shortly after, in line with when Management predicts peak tightness in U3O8 supply.

All in all, the broker believes that Deep Yellow could "become a globally diversified, multi-asset producer by the middle of the decade", which could make it a great option if you're looking for exposure to uranium.

The post Leading broker says investors should buy this ASX uranium share appeared first on The Motley Fool Australia.

ASX uranium shares are suffering at the hands of the market on Friday, with some favourites tumbling as much as 5.5%.

Their woes follow a rough overnight session for some major global uranium names and come amid a shocking session for S&P/ASX 200 Index (ASX: XJO) energy stocks.

Shares in ASX 200 uranium producer Paladin Energy Ltd (ASX: PDN) are falling 3.9% right now.

Meanwhile, those of Bannerman Energy Ltd (ASX: BMN), Deep Yellow Limited (ASX: DYL), and Boss Energy Ltd (ASX: BOE) have slumped 4.6%, 3.3%, and 5.5% respectively.

For comparison, the ASX 200 has slipped 1% right now while the S&P/ASX 200 Energy Index (ASX: XEJ) has fallen 2.6%.

Let's take a closer look at what might be going wrong for ASX uranium shares today.

What's dragging on ASX uranium shares today?

ASX uranium shares are underperforming on Friday, dumping some of the gains made over the last few weeks.

Today's fall included, the Bannerman share price has gained 46% over the last 30 days. Meanwhile, that of Paladin Energy is up 19%. Thus, their latest slump could partly represent profit taking.

It could also be a response to recent slumps recorded by major global uranium names.

The Canadian-listed Sprott Physical Uranium Trust – home of nearly US$3 billion worth of the energy commodity – fell 2.3% overnight. While that leaves it 5% lower than it closed last week's trade, it's still 15% higher than it was this time last month.

Meanwhile, the US-listed Global X Uranium ETF plunged 4% to its lowest price in nearly two weeks.

Their latest dips follow a rally, seemingly spurred by concerns of a global energy crisis.

A doubling down on nuclear energy – and, therefore, uranium – could be the next frontier for nations impacted by an energy crunch brought on by Russia's invasion of Ukraine, as my Fool colleague Bernd reports.

And with Australia housing much of the world's uranium resources, ASX shares could be in line to benefit.  

The post Why are ASX uranium shares getting smashed on Friday? appeared first on The Motley Fool Australia.

ASX uranium shares have been shooting the lights out over the past month.

With nations around the world gripped by an unprecedented energy crisis and largely intent on moving away from fossil fuels, nuclear energy is back on the agenda to provide reliable baseload power.

To name a few examples… India is planning a series of new nuclear plants. France is working to restart plants closed for maintenance with plans for 14 new plants.

Japan is reopening nuclear power stations shuttered since the Fukushima disaster in 2011. The Japanese government is also investigating developing next-generation modular reactors.

With news of nations' expanded nuclear power ambitions hitting the headlines regularly this past month, ASX uranium shares have trounced the index.

How have ASX uranium shares been performing?

Since this time last month, the All Ordinaries Index (ASX: XAO) is down 2.2%. Meanwhile, leading ASX uranium shares have all charged higher.

The Paladin Energy Ltd (ASX: PDN) share price, for example, is up 21.2% over the month.

Over that same time, Boss Energy Ltd (ASX: BOE) shares are up 16.1%, and the Deep Yellow Ltd (ASX: DYL) share price has surged 48.2%.

With those gains already in the bag, is there more growth to come?

Demand expected to ramp up

For some expert insight into the outlook for ASX uranium shares, we defer to the analysts at Macquarie Equities.

According to Macquarie analyst Jon Scholtz (courtesy of The Australian):

A ramp-up in demand is expected with recent news that Japan ordered the development of new nuclear reactors, and 17 existing reactors to be reactivated and that France stated its nuclear will be at full capacity by the winter. Germany also appears to be rethinking reactor decommissioning in light of energy security.

Scholtz said that both Boss Energy and Paladin were "fully licensed in known uranium jurisdictions and have a near-term path to market buoyed by a positive uranium outlook".

With the resurgent global interest in nuclear power, Macquarie Equities raised its price forecast for uranium by 17% for the 2024 financial year and by 21% for FY25.

With those higher prices in mind, the broker also increased its price targets for the leading ASX uranium shares.

Macquarie has a new target for the Paladin share price of $1.10. That's 15.8% above the current price of 95 cents.

The new target for the Boss Energy share price is $3.30, 14.2% above the current price of $2.89 per share.

The post ASX uranium shares have had a stellar month. Are they just getting started? appeared first on The Motley Fool Australia.

ASX uranium shares enjoyed another strong run higher on Tuesday.

Meanwhile, by close of trade, the All Ordinaries Index (ASX: XAO) had given up its earlier gains and finished the session down by 0.26%. Despite it being widely expected, the dip came following confirmation from the RBA that it has raised interest rates by 0.5%

But this didn't seem to faze these leading ASX uranium shares which concluded Tuesday's session as follows:

• Boss Energy Ltd (ASX: BOE) shares up 7.31% to $2.79
• Paladin Energy Ltd (ASX: PDN) shares up 7.78% to 90 cents
• Bannerman Energy Ltd (ASX: BMN) shares up 8.29% to $2.35
• Deep Yellow Ltd (ASX: DYL) shares up 6.8% to $1.10
• Alligator Energy Ltd (ASX: AGE) shares up 6.25% to 6.8 cents

That's some impressive performance today. But what's the outlook for ASX uranium shares moving forward?

What's the outlook for ASX uranium shares in September?

All the companies named above are also well up since this time last month.

While there are no guarantees as to how share prices will move over the rest of September, arguably the foundations are being laid to support strong and rising global demand for uranium. This should, in theory, support the miners longer term.

Just two weeks ago, Japan's government announced it will investigate the development of next-generation nuclear power plants and reopen seven currently shuttered plants.

As you might expect, ASX uranium shares rocketed higher following the announcement.

And Japan is far from the only nation looking to ramp up its nuclear power generation.

Global energy crisis spurs nuclear power ambitions

With the world facing a global energy crisis, exacerbated by Russia's invasion of Ukraine, countries around the world are extending the lives of existing reactors or rolling out plans to build new ones.

Those nations include India, Germany, Belgium, and France.

As reported by the Financial Times, France's state-controlled energy company, EDF, is moving to restart 32 of the nation's reactors that have been taken offline for maintenance. That represents more than half of France's 56 nuclear plants.

French energy minister Agnès Pannier-Runacher said, "EDF has committed to restarting all its reactors for this winter."

Reactors, of course, require uranium.

Today, Kazakhstan produces more than 40% of the global uranium. Australia lags far behind in production, though Australia has at least 25% of the world's proven uranium resources.

As more nations turn to nuclear power for their baseload generation, investors will be hoping this creates some long-term tailwinds for ASX uranium shares.

The post What's the outlook for ASX uranium shares in September? appeared first on The Motley Fool Australia.

Uranium shares Boss Energy Ltd (ASX: BOE) and Deep Yellow Ltd (ASX: DYL) were added to the ASX 300 today.

Boss shares lifted 5.9% to a high of $2.67 a share in intraday trading, finishing the day 2.38% higher at $2.58 a share.

Meantime, the Deep Yellow share price gained 3.9% at one stage, touching $1.065 before closing the day 0.49% lower at $1.02.

Let's delve into this news in a little more detail.

Quarterly rebalance

Boss and Deep Yellow are among 16 companies that have been added to the ASX 300 as part of the index's September quarterly rebalance.

Deep Yellow is developing the Tumas and Mulga Rock uranium projects. Tumas is located in Namibia, while Mulga Rock is in Western Australia.

The company says it is aiming to become a "leading, reliable, long term uranium supplier into a growing market". Deep Yellow recently completed a merger with Vimy Resources Limited.

Meanwhile, Boss Energy is developing the Honeymoon Uranium Project in South Australia. Boss is targeting production by the December quarter of 2023.

Energy matters were in focus today amid news Russia has cut gas exports to Europe via the Nord Stream 1 gas pipeline. Uranium is used as a fuel for nuclear power plants. The S&P/ASX 200 Energy Index (ASX: XEJ) also closed 3.78% higher on Monday.

Share price snapshot

The Boss Energy share price has soared 44% in the past 12 months, while Deep Yellow's has risen 12%.

For perspective, the ASX 300 Index has fallen more than 9% in the past year.

Boss Energy has a market capitalisation of $913 million, while Deep Yellow's is around $750 million.

The post 2 ASX uranium shares added to the ASX 300 today appeared first on The Motley Fool Australia.

ASX uranium shares slid into the red today, with major losses occurring across the main players in the industry.

It should be noted that the past month's performance for these shares, beginning from 2 August to the present day, is overwhelmingly positive, with most companies posting low to mid-double-digit gains.

Some notable mentions include the Alligator Energy Ltd (ASX: AGE) share price, which closed down 14.1% today at 6.7 cents. Despite today's losses, Alligator Energy remains up 12% over the past month.

The second biggest loser of the lot today is the Deep Yellow Limited (ASX: DYL) share price, which sunk 8.15% to $1.07. However, Deep Yellow remains up a massive 45% over the past month.

And finally, the Paladin Energy Ltd (ASX: PDN) share price closed down 1.18% today at 84 cents. This may look bad, but Paladin is still up almost 17% over the past month.

So while uranium shares are undoubtedly rallying over the past month, what spooked the market on Thursday? Let's investigate what happened.

What's going on with ASX uranium shares?

Some contentious news that was posted earlier this week could be being felt today. The United Nations stated that Iran is moving forward with its uranium enrichment program on Tuesday, as originally reported by ABC news.

Upgrades were reportedly made to its IR-6 centrifuges in Natanz, Iran. Diplomats stated that the existing IR-6 models were used to enrich uranium up to 60% purity, which is close to the threshold of being used for weaponisation. The recent upgrade was said to underline the West's concerns that Iran is progressing towards creating nuclear weapons.

The bigger picture for uranium is that it could enter a supercycle as countries worldwide embrace nuclear power.

Countries such as France, India, Japan, and the United States are ramping up the production of nuclear reactors. The energy crisis caused by the war in Ukraine and the development of miniaturised nuclear reactors have buoyed these countries' enthusiasm for the controversial energy source.

Nuclear energy is also considered a cleaner form of energy production that produces far less carbon dioxide than burning coal, which accounts for 37% of the world's energy production. This is an important feature for governments to consider as they attempt to reduce emissions as much as possible.

The post Why did ASX uranium shares get hammered on Thursday? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

BHP Group Ltd (ASX: BHP)

The BHP share price is down 7% to $37.73. This has been driven almost entirely by the mining giant's shares trading ex-dividend this morning for its latest dividend payment. Eligible shareholders can now look forward to being paid this fully franked final dividend of $2.471 per share later this month on 29 September.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is down 9% to $1.06. This appears to have been driven by profit taking after some strong gains in recent days. Investors have been buying this uranium developer's shares after the price of the chemical element pushed higher amid optimism over the potential construction of new nuclear power plants. The Deep Yellow share price remains up 20% since this time last week despite this pullback.

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is down over 5% to 93.7 cents. This morning the team at Macquarie downgraded this nickel producer's shares to a neutral rating and cut the price target on them to $1.00. This was driven by a softer than expected first half result and concerns over weakness in the stainless-steel market.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is down 15% to $2.47. Investors have continued to sell this sports betting company's shares following the release of its full year results on Wednesday. Although PointsBet reported a 52% increase in revenue to $296.5 million it still recorded a loss after tax almost as great at $267 million. And while it finished the period with a sizeable cash balance of $472 million, investors appear concerned that this may still not be enough to see it through to profit.

The post Why BHP, Deep Yellow, Nickel Industries, and PointsBet shares are dropping appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are storming higher:

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price has continued its stellar run and is up a further 11% to $1.17. Investors have been buying this uranium developer's shares this week after the uranium price surged higher. Traders have been bidding the chemical element higher amid reports that a number of governments are looking at nuclear power options. The Deep Yellow share price is now up 38% since this time last week.

Nitro Software Ltd (ASX: NTO)

The Nitro share price has rocketed 39% higher to $1.57. This follows news that the document productivity software company has received and rejected a takeover approach from a consortium led by Potentia Capital. Management stated that the offer was "highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations."

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is up 10% to $1.20. This morning the team at Morgans responded positively to the payments company's full year results from yesterday. Morgans has retained its add rating and lifted its price target to $1.70. It highlights that Tyro's earnings and guidance were ahead of expectations.

Webjet Limited (ASX: WEB)

The Webjet share price is up almost 9% to $5.55. Investors have been buying this online travel agent's shares after it released a trading update at its annual general meeting. Management revealed that it has started FY 2023 strongly. All businesses have been profitable and it expects to generate cash flow from operations of greater than $100 million during the first half of FY 2023.

The post Why Deep Yellow, Nitro, Tyro, and Webjet shares are storming higher appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4% to $5.63. This morning the team at Bell Potter responded to the infant formula company's full year results very positively. Its analysts have upgraded A2 Milk's shares to a buy rating with an improved price target of $6.35. It commented: "If A2M can execute on its strategy to achieve ~NZ$2Bn in FY26e revenues and EBITDA margins in the teens, then it would imply compound double digit EPS growth through to FY26e."

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 12% to $1.03. Investors have been buying this uranium developer's shares after the price of the chemical element surged higher overnight. With many governments looking at nuclear power options, traders are betting that demand for uranium will increase strongly.

Healius Ltd (ASX: HLS)

The Healius share price is up 3% to $3.81. This morning this healthcare company reported record results for FY 2022. Healius' revenue was up 22.2% to $2,337.7 million and its net profit after tax doubled to $309.3 million. COVID testing demand was a key driver of its growth in FY 2022. This was supported by the roll-out of nearly half of its sustainable improvement program phase 2 initiatives.

IGO Ltd (ASX: IGO)

The IGO share price is up 3.5% to $13.12. This follows the release of the battery materials miner's full year results for FY 2022. IGO reported a 34% increase in revenue to $903 million and a 51% jump in underlying EBITDA to $717 million. This reflects the first-year contribution from its lithium joint venture and a strong performance from its Nova nickel project.

The post Why A2 Milk, Deep Yellow, Healius, and IGO shares are racing higher appeared first on The Motley Fool Australia.

It's a decent day for the markets overall, with the All Ordinaries Index (ASX: XAO) posting a nice rebound following yesterday's sell-off, up 0.5% as we head into the lunch hour.

ASX energy shares are doing even better, as witnessed by the 1.6% intraday gain on the S&P/ASX 200 Energy Index (ASX: XEJ).

But ASX uranium shares are leaving those gains far behind.

Here's how some of the top stocks in the sector are tracking at the time of writing:

• Boss Energy Ltd (ASX: BOE) shares are up 6.7%
• Paladin Energy Ltd (ASX: PDN) shares are up 7.8%
• Bannerman Energy Ltd (ASX: BMN) shares are up 23.1%
• Deep Yellow Limited (ASX: DYL) shares are up 14.7%
• Alligator Energy Ltd (ASX: AGE) shares are up 21.1%

What's driving investor interest in ASX uranium shares?

Investors have been considering the likely growth in demand for uranium, following decades when the radioactive energy source was out of favour.

With the world looking to rapidly slash carbon emissions – and coming to the realisation that renewables are unlikely to fully fill the void left by coal, gas and oil – nations across the globe are turning their attention back to a nuclear-powered future.

Last week, Japan's government announced its intention to ramp up the nation's nuclear power generation. Japan plans to reopen seven currently shuttered plants and is looking to develop new generation nuclear power plants. That news saw ASX uranium shares charging higher.

But it's not just Japan.

While the nuclear conversation is ongoing in Australia, Belgium and Germany are both looking at extending the lives of their nuclear plants amid a crushing energy shortage exacerbated by Russia's invasion of Ukraine.

Meanwhile, France revealed it intends to build 14 new nuclear plants later this decade. And India is also looking at expanding its nuclear power capacity. Nuclear energy is currently the fifth largest source of electricity in the world's second most populous nation.

And when it comes to driving interest in ASX uranium shares, let's not forget Elon Musk.

On Saturday the world's richest man tweeted, "Countries should be increasing nuclear power generation! It is insane from a national security standpoint & bad for the environment to shut them down."

Could this tiny development offer further tailwinds?

With plenty of tailwinds already behind them, ASX uranium shares could be getting an extra boost from the US Nuclear Regulatory Commission (NRC).

On 29 July the NRC gave the green light (with a few formalities pending) to a tiny modular nuclear reactor designed by Oregon based NuScale.

As Popular Mechanics reports, this is only the seventh reactor design to ever be approved within the US and the first modular one. The reactor is about the size of two city buses, tiny compared to conventional plants.

According to Diane Hughes, vice president of marketing and communications for NuScale:

Especially while the global community is suffering from crises like volatile energy prices and climate-driven extreme weather events, the need for carbon-free energy solutions like NuScale's small modular reactors has never been greater…

Potential customers from numerous countries have expressed interest in our technology, and we currently have 18 signed and active memorandums of understanding with customers in 11 countries interested in, and considering, a deployment of a NuScale power plant.

With that kind of growth in interest, ASX uranium shares could see a sustained, long-term boost in the demand for their product.

How have these ASX uranium shares been tracking?

We looked at today's price action above.

Here's how these top ASX uranium shares have performed over the past 12 months compared to the 7% loss posted by the All Ordinaries.

• Boss Energy Ltd (ASX: BOE) shares gained 1,365%*
• Paladin Energy Ltd (ASX: PDN) shares gained 60%
• Bannerman Energy Ltd (ASX: BMN) shares gained 48%
• Deep Yellow Limited (ASX: DYL) shares gained 47%
• Alligator Energy Ltd (ASX: AGE) shares gained 123%

(*Note, ASX uranium share Boss Energy underwent a share consolidation on 29 November. This saw the number of shares reduced by a factor of eight. The actual share price increase for Boss Energy is 85% over 12 months.)

The post Could this tiny development add even more fuel to ASX uranium shares? appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up a further 13% to 86.5 cents. This uranium explorer's shares have been on fire this week. This appears to have been driven by reports that Japan is considering building new nuclear plants to stabilise its energy supply. This would likely be a big boost to demand for uranium.

IDP Education Ltd (ASX: IEL)

The IDP Education share price is up 6% to $28.50. This follows the release of a strong full year result from the language testing and student placement company. IDP reported a 50% increase in revenue to $793 million and a 159% jump in net profit after tax to $102.6 million. This was driven by record IELTS testing volumes and record student placements.

Pendal Group Ltd (ASX: PDL)

The Pendal share price is up 8% to $5.27. Investors have been scrambling to buy this fund manager's shares after it received another takeover approach from rival Perpetual Limited (ASX: PPT). The latter has offered one Perpetual share for every 7.5 Pendal shares owned and $1.976 per share. This equated to an offer of $6.54 per share at the time. Though, the Perpetual share price has sunk on the news, lowering the value of the offer.

Qantas Airways Limited (ASX: QAN)

The Qantas share price is up 6% to $4.81. Investors have been buying this airline operator's shares following the release of its full year results for FY 2022. Although, as expected, the company reported a significant loss, it surprised the market with a $400 million share buyback.

The post Why Deep Yellow, IDP, Pendal, and Qantas shares are soaring today appeared first on The Motley Fool Australia.

While the All Ordinaries Index (ASX: XAO) is putting in a solid day, up 0.8% as we head into the lunch hour, leading ASX uranium shares are rocketing far higher.

For example:

• Paladin Energy Ltd (ASX: PDN) shares are up 12.9%
• The Deep Yellow Limited (ASX: DYL) share price is up 13.1%
• Bannerman Energy Ltd (ASX: BMN) shares are up 17.0%
• The Alligator Energy Ltd (ASX: AGE) share price is up 8.8%

So, what's piquing investor interest today?

What's driving investor interest?

Investors are snapping up ASX uranium shares following on news that Japan is actively seeking to ramp up its nuclear power generation.

It's been more than 11 years now since Japan shuttered all of its nuclear reactors.

As we're sure you'll recall, that came in the wake of the tsunami-driven disaster at its Fukushima Daiichi nuclear power plant in March 2011. Uranium prices and ASX uranium shares fell hard over the following months, with most only beginning to rebound in 2021.

Currently, Japan only has 10 nuclear plants online, with nuclear energy providing around 7% of its electricity in 2021.

But that number looks set to grow.

With Japan heavily reliant on energy imports (coal, oil and gas), Russia's invasion of Ukraine has spurred the country into revisiting nuclear power. All the more so following soaring energy demand during the northern summer heatwave, alongside the goal of reducing carbon emissions.

Yesterday, Prime Minister Fumio Kishida announced that Japan will look into developing next generation nuclear power plants and reopen a number of closed plants.

As Bloomberg reports, Japan wants to restart seven more nuclear reactors. That would see the nation with 17 online reactors out of 33 in operational status, news that looks to be driving ASX uranium shares higher today.

"Nuclear power and renewables are essential to proceed with a green transformation. Russia's invasion changed the global energy situation," Kishida said.

How have these ASX uranium shares been tracking longer term?

Though many have retraced in 2022, the ASX uranium shares listed above are all well into the green over the past 12 months.

Since this time last year, the Paladin share price is up 69%; Deep Yellow shares are up 27%; Bannerman shares have gained 42% and the Alligator Energy share price is up 107%.

The All Ordinaries comes in far behind these ASX uranium shares, having lost 7% over the 12 months.

The post Why are ASX uranium shares going gangbusters on Thursday? appeared first on The Motley Fool Australia.

ASX uranium shares are "down materially and have completely decoupled with the other energy groups for no really good reason at all", according to energy, mining, and commodities expert Ben Cleary.

Cleary is the portfolio manager of listed investment company (LIC) Tribeca Global Natural Resources Ltd (ASX: TGF).

In an interview with Livewire, Cleary said he was "very bullish" on uranium shares. 

What's happening with ASX uranium shares?

Cleary said uranium shares have lost value recently but are well-positioned for a big future. This is especially because several governments have recently approved the commodity for energy generation.

Cleary said:

Uranium correlates very well with other energy commodities, whether it's gas or coal or oil — as it should do because it's obviously competing as an alternative energy source. 

However, year to date, uranium equities are down materially and have completely decoupled with the other energy groups for no really good reason at all.

In fact, they've been correlating more with cryptocurrencies and digital assets, for whatever reason.

Cleary expects to see this trend rapidly reverse course in the next few months. As a result, he reckons most ASX shares in the uranium space have a 30% to 50% upside from here.

He added:

The European Union has just approved uranium as an approved energy source. The American government are very supportive of nuclear generation. So is China. 

So uranium has a really strong governmental backing as a baseload energy source given it produces lower carbon emissions versus other fossil fuels going forward.

Uranium shares have declined in 2022 due to rising concerns about recession, as well as China's strict COVID-19 policy.

Which ASX uranium share is a buy?

Cleary's pick of the bunch is Boss Energy Ltd (ASX: BOE).

Boss Energy is one of the larger ASX shares in the uranium sector with a market capitalisation of $853.24 million. It holds interests in the Honeymoon uranium project in South Australia. It also holds interests in nickel-copper exploration projects in Scandinavia as well as gold interests in Burkina Faso.

The Boss Energy share price is up 1,300% over the past 12 months (yep, you read that right). But in the year to date (ytd), it has declined by 2%.

Here is a summary of the performance of the other big players in the uranium space:

• The Paladin Energy Ltd (ASX: PDN) share price is up 44% over 12 months and down 21% ytd
• The Energy Resources of Australia Limited (ASX: ERA) share price is down 4% over 12 months and down 29% ytd
• The Silex Systems Ltd (ASX: SLX) share price is up 243% over 12 months and up 143% ytd
• The Bannerman Energy Ltd (ASX: BMN) share price is up 33% over 12 months and down 27% ytd
• The Deep Yellow Limited (ASX: DYL) share price is up 10% over 12 months and down 18% ytd

The post The ASX shares with 30% to 50% upside: fundie appeared first on The Motley Fool Australia.

What happened with uranium prices in FY22?

Uranium prices tracked higher over the first nine months, reaching more than US$64 per pound in mid-April, according to data from Trading Economics. Since then, prices have fallen back to US$48 per pound, though that's still well above the US$30 per pound on 30 June 2021.

Global interest in the metal, used in nuclear reactors to generate electricity, was rekindled in 2021 amid increased focus on slashing carbon emissions. Whilst nuclear energy entails having to deal with the radioactive waste post electricity production, it essentially produces no greenhouse gases.

Soaring energy prices in 2022, spurred higher by Russia's invasion of Ukraine, has also seen more political interest in using uranium to provide baseload power.

So, how did all this impact ASX uranium shares?

ASX uranium shares broadly beat the benchmark

All up, it was a mixed bag for investors of ASX uranium shares in FY22, though most beat the benchmark index.

Here's how some of the top producers and explorers stacked up against the All Ordinaries Index (ASX: XAO) over the 12 month period.

• All Ordinaries Index(ASX: XAO) lost 11.1%
• Paladin Energy Ltd (ASX: PDN) closed FY21 trading for 52 cents and finished FY22 at 58 cents, a gain of 11.5%
• Deep Yellow Limited (ASX: DYL) kicked off FY221 at 72 cents and finished at 60 cents, a loss of 16.7%
• Bannerman Energy Ltd (ASX: BMN) opened and closed the 2022 financial year at 17 cents per share, for a change of 0.0%
• Boss Energy Ltd (ASX: BOE) finished FY21 at 18 cents and closed FY22 at $1.77, a gain of 22%

Looking over that list you'll see that three of the four ASX uranium shares handily outperformed the All Ordinaries in FY22.

You may also be questioning our maths.

If the Boss Energy share price went from 18 cents to $1.77, surely that's a gain of 833%, not 22%?

The discrepancy there is in the share consolidation that Boss Energy carried out back in November. That saw every eight Boss Energy shares consolidated into one 'new' share. With that in mind, the FY22 closing price for this ASX uranium share in relatable terms to its FY21 closing price needs to be divided by eight.

So instead of $1.77, we get 22 cents.

Still, an impressive 22% year-on-year gain for Boss Energy.

The post The ups and downs for ASX uranium shares in the 2022 financial year appeared first on The Motley Fool Australia.