What are the best uranium stocks? Here’s a list of the companies on the TSX, TSXV and ASX with the biggest year-to-date share price gains.
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The U3O8 spot price has remained relatively flat for the majority of 2019.
The ongoing US Section 232 uranium import investigation has weighed on the sector, preventing the price from climbing much above US$26 per pound.
Nevertheless, the three uranium stocks on the TSX, TSXV and ASX listed below were still able to see significant growth through the past year, and below we’ve assembled information about those companies for investor consideration.
All year-to-date and share price information was obtained on December 13, 2019, from TradingView. All companies listed had market caps above C$10 million at that time.
1. ValOre Metals (TSXV:VO)
Year-to-date gain: 133.33 percent; current share price: C$0.28
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 also 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.
In August, 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. Global Atomic (TSX:GLO)
Year-to-date gain: 36.76 percent; current share price: C$0.47
Global Atomic operates a large Dajy Area Surface Anomaly (DASA) uranium deposit in the Republic of Niger. Additionally, the company benefits from the dividend stream generated by its share in the Befesa Silvermet zinc concentrate production facility in Turkey.
The company currently is operating under six uranium exploration permits in the Republic of Niger, and its DASA deposit was discovered by Global Atomic geologists. According to the company, it is a graben-hosted sandstone roll-front deposit of world class size and grade.
In mid-November, the company released its Q3 results, stating that its DASA asset’s indicated resource had increased by 56 percent to 101.6 million pounds eU3O8 at 1,752 parts per million (ppm); its inferred resource had grown by 81 percent to 87.6 million pounds eU3O8 at 1,781 ppm.
3. Berkeley Energia (ASX:BKY)
Year-to-date growth: 4.44 percent, current share price: AU$0.24
Berkeley Energia operates a world-class uranium project that is being developed in a historic mining area in Western Spain, close to three hours west of Madrid. Following recent ministerial approval, the miner has now received all the European Union and national-level green lights required for the initial development of the project.
The asset is expected to generate measurable social and environmental benefits in terms of jobs and skills training in a depressed rural community. It will also make a significant contribution to the security of supply of Europe’s zero carbon energy needs.
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Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.