Top Uranium Stocks of 2020 on the TSX and TSXV

- April 8th, 2020

What are the best uranium stocks? Here’s a list of the companies on the TSX and TSXV with the biggest year-to-date share price gains.

Click here to read the previous TSX and TSXV uranium stocks article.

After spending the first two months of the year locked below US$25 per pound, the uranium spot price has begun to climb, driven by mine and project shutterings around the globe and concern that supply and demand challenges could lead to a shortage.

The U308 spot price edged higher in March as the coronavirus continued to spread, reaching US$27.40 — that marked its most significant month-over-month gain since June 2018.

The current state of uranium production remains precarious, with both of the world’s top producers drastically reducing operations in compliance with COVID-19 lockdown regulations.

 

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Despite the current market volatility brought on by the pandemic, some miners and explorers have been able to grow their value with notable share price increases. Below the Investing News Network has listed the top uranium stocks on the TSX and TSXV by share price performance so far this year.

All year-to-date and share price information was obtained from TradingView at close of day on April 8, 2020. All companies listed had market caps above C$10 million at that time.

1. Laramide Resources (TSX:LAM)

Year-to-date gain: 43.4 percent; current share price: C$0.28

Laramide Resources owns several uranium projects in the US and Australia, including the Churchrock and Crowpoint in situ recovery projects. The firm is also permitted to advance the La Sal project in Utah and is working towards permitting at La Jara Messa in New Mexico.

In late March, Laramide received an extension to its term loan and provided a COVID-19 market update.

The company states in the release that the industry was well positioned for growth in 2020 before the pandemic, and may benefit from the market uncertainty the coronavirus has induced.

“We believe uranium equity valuations — which have fallen in line with the general decline of almost all equities in March 2020 — do not reflect the prospect that a meaningful industry recovery could finally begin in 2020,” reads the announcement.

2. Blue Sky Uranium (TSXV:BSK)

Year-to-date gain: 40 percent; current share price: C$0.14

Focused on Argentina, Blue Sky Uranium is presently developing several uranium-vanadium projects in the country’s Rio Negro province. In early March, Blue Sky announced the commencement of a reverse-circulation drill program at its Amarillo Grande project in Argentina.

The company has yet to make any further announcements regarding the drill activity. Argentina entered a nationwide lockdown on March 21, which may delay Blue Sky’s efforts.

3. IsoEnergy (TSX:ISO)

Year-to-date gain: 18.9 percent; current share price: C$0.47

Uranium explorer and developer IsoEnergy owns a portfolio of projects located in the prolific Athabasca Basin in Saskatchewan, Canada.

 

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In a March 31 announcement, the company released additional favorable assay results from a winter drilling program on the Hurricane zone of its Larocque East property.

CEO Craig Perry also offered some commentary on the uranium market: “With the suspension of operations at several uranium mines and mills around the world including at the world’s largest mine — Cameco’s Cigar Lake — we are starting to see uranium prices in the spot market rise strongly in recent days. Should these mines stay offline for an extended period, we see further upward pressure on prices as utilities move to secure supply.”

4. Cameco (TSX:CCO)

Year-to-date gain: 10.3 percent; current share price: C$12.79.

Cameco is the leading publicly traded uranium producer and operates some the largest uranium projects in the world, including the McArthur River and Cigar Lake mines, both located in Saskatchewan.

In response to the spread of COVID-19 Cameco has put Cigar Lake on care and maintenance, news that has reverberated through the sector.

On April 7, Cameco also decided to temporarily decrease production at its joint venture with Kazatomprom in Kazakhstan. The output decline has prompted the uranium miner to reevaluate its 2020 production guidance.

In 2018, the company indefinitely shuttered McArthur River due to persistently low uranium prices.

5. Uranium Participation (TSX:U)

Year-to-date gain: 6.8 percent; current share price: C$4.36.

Unlike the miners and explorers listed above, Uranium Participation invests 85 percent of its equity offerings in purchasing uranium, then holds it to sell at a later date.

Its uranium holdings equate to more than 16.2 million pounds of U3O8 equivalent.

The company’s most recent press release, dated April 6, notes that it has made commitments to purchase 230,000 pounds of U3O8.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: IsoEnergy is a client of the Investing News Network. This article is not paid-for content.

 

Your opinion matters!

   
Share your feedback for a chance to win a $100 Amazon.com gift card. Giveaway ends Sunday July 5, 2020.
 
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11 responses to “Top Uranium Stocks of 2020 on the TSX and TSXV

  1. What about Ur-Energy (URG)?
    Ticker: URG
    Market Cap: $80M
    · Fully funded, no need to raise capital
    · Cash flow positive
    · 60% of long term sale contracts locked in at average of $51/lb supports cash flow, with the company realizing $25 margins in a <$25 spot environment
    · Low extraction cash cost of ~$17.15/lb= Lowest Cost Producer of all publicly traded Uranium Companies
    · Company is poised to benefit from further consolidation in the industry and the current administration

    1. Hi Matthew,
      Thank you for the comment. Our list criteria includes best performing uranium stocks that are ranked by how much their share price has gained year-to-date.

  2. What about Ur-Energy (URG)?
    Ticker: URG
    Market Cap: $80M
    · Fully funded, no need to raise capital
    · Cash flow positive
    · 60% of long term sale contracts locked in at average of $51/lb supports cash flow, with the company realizing $25 margins in a <$25 spot environment
    · Low extraction cash cost of ~$17.15/lb= Lowest Cost Producer of all publicly traded Uranium Companies
    · Company is poised to benefit from further consolidation in the industry and the current administration

    1. Hi Matthew,

      Thank you for the comment. Our list criteria includes best performing uranium stocks that are ranked by how much their share price has gained year-to-date.

  3. The supply cuts from cameco and. Kazakastan. Caused temporary spike. Their is a lot excess or overhang uranium that needs to be cleared out before demand and supply balance. The past 6 years caused a lot of excess uranium to be stored from uranium by japan which they are releasing in the spot market. However with the cuts the lows. Will hold. However be prepared for a rerun of uranium spike like last year and then shareholders get burned and miners dilute to survive. Not until japan reactors come back on donot expect prices to consistenly move up,.

  4. The supply cuts from cameco and. Kazakastan. Caused temporary spike. Their is a lot excess or overhang uranium that needs to be cleared out before demand and supply balance. The past 6 years caused a lot of excess uranium to be stored from uranium by japan which they are releasing in the spot market. However with the cuts the lows. Will hold. However be prepared for a rerun of uranium spike like last year and then shareholders get burned and miners dilute to survive. Not until japan reactors come back on donot expect prices to consistenly move up,.

  5. Trying to find out the history of pre-2007 when the per pound of processed good grade Uranium was sky high! But no one is able (or historical info sources have faded away) to tell me what that sky high price per pound did to various companies’ stock prices!
    Just curious! Thx any volunteers! Marion

    1. Good question; however, before 2007 / 2006 the uranium price was even lower … What the raise in the uranium price did is that dozens of new companies started to explore for uranium and some started to mine uranium, at least one of them got lucky (Mantra Recources from Australia) and sold the shares to UraniumOne / ROSATOM – and the shareholders got approx. 6times the prices the shares had cost at their lowest value; others were less lucky – those who had invested into PALADIN, also from Australia … the company nearly went bankrupt winter 2017/2018, was put under administration and finaly, stockholder lost approx. 99% (or more) of the value of their stocks.
      MANY of the other junior mining / exploration companies were never heard of again … most probably, ther shareholders lost most of the value of their shares.
      There is way too little demand for uranium due to the shutdown of the Japanes nuclear power plants follwoing the Fukushima disaster, plus some German nuclear power plants being phased out, and there will be an overproduction of Uranium from the existing mines into 2025 or so.
      The big players such as CAMECO, Canada and KAZATOMPROM are currently cutting their production, AREVA / ORANO is closing down its Akouta mine in Niger – so, not much chance for newcomers on the market.

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