Top Uranium Stocks of 2019 on the TSX and TSXV

- October 8th, 2019

What are the best uranium stocks? Here we list the companies on the TSX and TSXV that have seen the biggest year-to-date share price gains.

The third quarter of the year has seen the uranium sector remain relatively flat, with the U3O8 spot price stuck at US$26 per pound or lower. 

Continued uncertainty about the US Section 232 uranium import investigation has weighed on the sector, preventing the spot price from climbing above US$26.

Below we run through the three uranium stocks on the TSX and TSXV with the biggest share price gains year-to-date. All data was obtained on October 7, 2019, using TradingView’s stock screener. All companies listed had market caps above C$10 million at that time.

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1. ValOre Metals (TSXV:VO)

Year-to-date gain: 183.33 percent; share price: C$0.34

Diversified explorer ValOre Metals has three uranium projects in various stages of exploration and development. Two of the company’s uranium assets are located in Saskatchewan’s Athabasca Basin, a jurisdiction well known for its high-grade deposits. Uranium major Cameco’s (TSX:CCO,NYSE:CCJ) main project, Wheeler River, is also located in the area.

ValOre has a high-grade uranium asset in Nunavut, the Angilak property. The company has invested more than C$55 million in the exploration of the property and believes it is well positioned to benefit from an upturn in the uranium market.

At the beginning of August, the company closed the first tranche of a C$3 million private placement, issuing 7,087,000 shares at a price of C$0.25 each for gross proceeds of C$1,771,750. ValOre is using the funds to expand the exploration of its current projects, as well as to help cover costs associated with its acquisition of the Pedara Branca project.

On August 14, ValOre closed its acquisition of Pedra Branca from Jangada Mines (LSE:JAN) for C$3 million. This will be a detour from uranium — the newly acquired project is a platinum-group metals asset.

2. IsoEnergy (TSX:ISO)

Year-to-date gain: 11.39 percent; share price: C$0.53

IsoEnergy possesses an array of uranium assets all located in the Athabasca Basin of Saskatchewan. The explorer was busy during Q3 2019, exploring, testing and drafting reports for its various projects ahead of an expected spot price uptick.

Towards the end of July, the miner intersected 5.4 percent U3O8 over 7 meters, including 15.9 percent uranium over 2 meters, at the Hurricane zone at its Larocque East property, located in Orano Canada’s McClean Lake region.

Learn to profit from uranium stocks


The booming uranium market has investors rejoicing


“The system is showing it has high-grade potential and now strike extent and scale. I’m particularly excited to see the results from our eastern most pathfinder hole LE19-19 and we look forward to reporting further results from the program where we have a further eight drill holes planned,” CEO Craig Parry noted in a release at the time.

On August 28, IsoEnergy reported the completion of its summer drill program at the Hurricane zone, with intersections of strong radioactivity in LE19-28 and LE19-29, plus the intersection of mineralization on a 250 meter step out to the east.

“With the zone now extending at least 500m along-strike, Hurricane is the most exciting recent uranium discovery in the Athabasca basin,” said Parry.

3. GoviEx Uranium (TSXV:GXU)

Year-to-date gain: 7.14 percent; share price: C$0.15

Junior uranium miner GoviEx Uranium is focused on the exploration and development of its African uranium properties, with the goal of becoming a significant uranium producer through the continued exploration and development of its mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia and its Falea project in Mali.

The company has one of the largest NI 43-101 uranium resource bases in combination amongst its peer group, and boasts a combined measured resource of 36.2 million pounds of U3O8, indicated resources of 107.3 million pounds of U3O8 and inferred resources of 86 million pounds of U3O8.

On July 19, GoviEx and the Republic of Niger signed a definitive agreement in order to jointly develop the company’s Madaouela project.

“The finalization of the agreements represents a key step for GoviEx and Niger as we further develop the mine permitted Madaouela project and it continues to illustrate the constructive environment that GoviEx has experienced operating in Niger since 2007. Our work on the feasibility study continues as we focus on improving the project economics with confirmation test work currently underway targeting the reduction of operating and capital costs,” noted CEO Daniel Major.

On September 23, GoviEx reported that its Madaouela 1 mining permit has been revised to include an additional 23.84 million pounds of measured and indicated mineral resources.

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

Securities Disclosure: I, Nicole Rashotte, 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.

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The booming uranium market has investors rejoicing


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9 responses to “Top Uranium Stocks of 2019 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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