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Date : 23/09/2021

3 Best ASX Uranium Stocks Of 2021

Top 3 ASX Uranium Stocks To Look For In September 2021

The ASX 200 added 73.30 points or 1% to 7,370.20 on Thursday. This extends gains for the third consecutive session as easing fears of China Evergrande’s brush with default. Consequently, a better market sentiment led to a rebound in Iron ore prices which pushed mining companies higher.

On the data front, preliminary PMI readings earlier today revealed manufacturing rising to a three-month high. Conversely, services contracted for the third consecutive month amid ongoing mobility restrictions and protracted periods of lockdown in many parts of the country.

Our List of 3 Best Performing ASX Uranium Stocks to Buy in September 2021

As the broad market rebound today, it might be the right time to jump on the bandwagon and load up on these three promising uranium stocks:

Paladin Energy (ASX: PDN)

Paladin is engaged in the production of uranium. It operates through its various projects that are in Australia and Africa.

The ASX uranium shares have taken the spotlight after uranium prices skyrocketed more than 60% in the past month to over US$50/lb.

Paladin is the largest ASX-listed uranium player. It is up about 95% in the past month, even after a brief 16% slide in the beginning of the week.

ASX uranium shares are looking to capitalise on the recent jump in prices. Surfing on this wave, Paladin Energy eyeing a restart of its “globally significant” Langer Heinrich project.

Paladin’s shares seem to be trapped on the upside despite a bit of weakness this week. However, it could be an opportunity to seize and grab some shares at a 23% discount from its recent high at $1.12 per share. PDN closed the day today in the red, at 85 cents per share.

Energy Resources Of Australia (ASX: ERA)

ERA is engaged in the mining, processing, and sale of uranium oxide. The company operates the Ranger uranium mine. The Ranger mine’s operational infrastructure lies within the 79-square kilometre Ranger Project Area, which is located eight kilometres east of Jabiru and 260 kilometres east of Darwin.

ERA same as the other ASX uranium shares suffered from a sharp pullback in the beginning of this week. Nevertheless, Energy Resources is still capped on the upside. The share prices surged more than 52% since the last month. Looking at the longer term, ERA has returned 161% since the last twelve months.

ERA’s share prices have been a little bit disrupted earlier this year by ceased activity at its Ranger mine. This follows the Ranger authority’s order. However, on a positive note, ERA reported that progressive rehabilitation activities are continuing with output matching earlier upper-end production guidance.

At the moment of writing, ERA is trading at 40.5 cents per share. The uranium producer share price is still very bullish despite Monday’s pullback.

Peninsula Energy (ASX: PEN)

Peninsula Energy is a uranium mining and development company. It operates the Lance Uranium projects in the USA and the Karoo Uranium projects in South Africa. Peninsula’s revenue entirely comes from Lance Uranium projects.

The PEN share price has bolted out of the gates since the beginning of this year. Hence, the uranium miner returned 121% year-to-date. Last month was quite intense with PEN shares storming 82% and reaching 25.5 cents. Although today was a red day for the uranium miner, which is just a day ahead of its earnings report.

So, what is driving Peninsula’s share price? Apart from the soaring uranium price, Peninsula has recently provided updates on its flagship Lance Uranium Projects in the U.S. The company has continued MU1A low-pH field demonstrations at the project for more than a year.

Peninsula Energy has noted that field operations continue to run consistently with target flow and solution chemistry achieved.

In addition, the company purchased 300,000 pounds of uranium for US$31.35 per pound following a $15 million capital raise earlier this year.

At the moment of writing, PEN is trading at 25.5 cents, 37% below its 2-year high.


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