Top Uranium Stocks on the TSX and TSXV

- December 7th, 2020

What are the top 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 top uranium stocks on the TSX and TSXV article.

After a strong start to the year, the U3O8 spot price began a downward trend midway through 2020.

It slipped below the US$30 per pound mark in the third quarter and remained at that level into Q4.

While uranium was unable to retain its early 2020 values, a number of producers and explorers still saw share price growth over the course of the year. Whether expanding drill efforts or raising capital, the sector has been busy with activity.

 

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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 using TradingView‘s stock screener on December 7, 2020. All companies listed had market caps above C$10 million at that time.

1. Baselode Energy (TSXV:FIND)

Year-to-date gain: 714.29 percent; current share price: C$0.57

Baselode Energy’s aim is to discover a uranium orebody in Saskatchewan’s Athabasca Basin area. The exploration company is focused on basement-hosted deposits, and its Shadow and Hook projects can be found just outside the prolific uranium hotspot in the Athabasca Basin 2.0 region.

Although it only began trading midway through the year, Baselode recorded a major gain and takes the first spot on this list of top uranium stocks year-to-date. Since its launch in June, the company has detailed plans at its Shadow and Hook properties and aims to start drilling in Q1 of next year.

The company’s highest share price point came in early October, just before it closed a $2.5 million tranche of a $3 million non-brokered private placement of both flow-through and non-flow-through units. The remainder closed in mid-October.

2. IsoEnergy (TSXV:ISO)

Year-to-date gain: 305 percent; current share price: C$1.60

Uranium exploration and development company IsoEnergy has a portfolio of uranium projects in the Eastern Athabasca Basin. According to the company, it recently discovered the Hurricane zone of uranium mineralization at its Larocque East property.

IsoEnergy has trended upward over the course of the year, and has steadily released drill results from Hurricane during that time. Aside from that, this year the company has staked new properties in the Eastern Athabasca Basin; it’s also agreed to sell several projects and closed financings.

3. enCore Energy (TSXV:EU)

Year-to-date gain: 258.82 percent; current share price: C$0.62

enCore Energy’s goal is to advance its US-based in situ recovery and conventional uranium properties. The exploration and development company is another of the top uranium stocks and holds over 115,00 acres of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. It also has assets in Utah, Arizona and Wyoming.

 

Did You Know That Uranium Was A Top Commodity In 2020?

 
Don’t Miss Out This Year With Our Exclusive FREE 2021 Uranium Outlook Report!

This year has brought steady upward momentum for enCore Energy. Its activities over that time have included appointing a new CEO and CFO, signing a deal to acquire Westwater Resources’ (NASDAQ:WWR) US uranium assets and closing a financing. enCore also formed Group 11 Technologies, a private venture whose aim is to test and implement non-invasive precious metals extraction technologies using environmentally friendly solutions.

4. International Consolidated Uranium (TSXV:CUR)

Year-to-date gain: 130 percent; current share price: C$0.68

Formerly NxGold, International Consolidated Uranium revealed a name and ticker change in early September. The company also announced a private placement at that time, later increasing it and then closing it on October 1 for gross proceeds of C$3.2 million.

In recent months, International Consolidated Uranium’s focus has been on adding uranium assets to its portfolio. It has option agreements in place with Mega Uranium (TSX:MGA,OTC Pink:MGAFF) and IsoEnergy, and at the beginning of December it closed an option agreement for the Moran Lake uranium-vanadium project with a private arm’s length party.

The company also holds 80 percent of the Western Australia-based Mount Roe gold project and can earn up to a 70 percent stake in the Kuulu gold project in Nunavut.

5. Forsys Metals (TSX:FSY)

Year-to-date gain: 100 percent; current share price: C$0.26

Emerging uranium producer Forsys Metals holds the Norasa project in Namibia, where it has completed a definitive feasibility study. According to the company, Norasa has proven and probable reserves of 206 million tonnes grading 200 parts per million U3O8, which equates to 91 million pounds of U3O8. Norasa contains the Valencia and Namibplaas assets.

There has been little news from Forsys this year. Its share price high points came in mid-April and early December, although the company remained steady between those periods.

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

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

Editorial Disclosure: Baselode Energy and IsoEnergy are clients of the Investing News Netework. This article is not paid-for content. 

 

Did You Know That Uranium Was A Top Commodity In 2020?

 
Don’t Miss Out This Year With Our Exclusive FREE 2021 Uranium Outlook Report!
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8 responses to “Top Uranium Stocks on the TSX and TSXV

  1. 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.

  2. 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,.

  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. 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.

  5. 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.

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