Top Uranium Stocks of 2020 on the TSX and TSXV

- July 9th, 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.

The uranium price lost some of its steam during the last month of Q2, slipping below US$33 per pound.

Before the minor price fall, the U3O8 spot price had been on a steady uptrend, adding 33 percent to its value since January.

Price growth was a welcome sign to producers and explorers in the sector, many of which have contended with a low spot price for the last nine years.

 

Top Uranium Stocks to Watch

 
Find out what industry experts say is ahead for uranium!

Uranium’s current price level — US$32.80 — has not been seen since early 2016, prompting analysts to forecast a uranium bull market.

Quoting investment veteran Rick Rule at a Metals Investor Forum webinar, Gwen Preston of Resource Maven said, “The worst performers in the uranium space in the last bull market gained 800 percent.” She then explained that this bull run “has been setting up for a long time.”

Top uranium stocks to consider

Below the Investing News Network has listed the top uranium stocks on the TSX and TSXV by best share price performance so far this year.

All year-to-date and share price information was obtained using TradingView‘s stock screener at close of day on July 9, 2020. All companies listed had market caps above C$10 million at that time.

1. IsoEnergy (TSXV:ISO)

Year-to-date gain: 89.3 percent; current share price: C$0.75

Focused on uranium in Canada’s Athabasca Basin, IsoEnergy possess 21 exploration properties.

In late May, the junior reported the acquisition of six new properties, which upped the company’s land holdings in the Eastern Athabasca Basin from 15 to 21.

“These properties have been on our radar for some time, and with the uranium price gaining momentum we elected to secure the tenure now,” said Steve Blower, vice president of exploration.

“Every one of these properties has good uranium exploration potential given the presence of drill-ready targets on conductive features and/or proximity to known deposits.”

A few days later, IsoEnergy’s share price hit its quarterly high of C$0.76.

2. Blue Sky Uranium (TSXV:BSK)

Year-to-date gain: 39 percent; current share price: C$0.14. 

Blue Sky Uranium is focused on developing uranium projects in Argentina. Currently the explorer owns several uranium-vanadium projects in the country’s Rio Negro province.

The company’s share price climbed 105 percent on April 21, and subsequently trended lower.

In late June, the energy explorer announced it was relying on temporary blanket relief offered by the Canadian Securities Administrators (CSA).  The measure was offered by the CSA to give companies an extension on certain filing requirements in the wake of COVID-19.

Blue Sky has postponed its annual general meeting until September.

3. Laramide Resources (TSX:LAM)

Year-to-date gain: 31.5 percent; current share price: C$0.25 

Uranium company Laramide Resources owns several projects in the US and Australia, including the Churchrock and Crowpoint in situ recovery projects.

The miner is also advancing its Utah-based La Sal project and La Jara Messa in New Mexico.

On April 6, Laramide reported it would delay the release of its 2019 financials under the  CSA’s blanket relief program.

 

Top Uranium Stocks to Watch

 
Find out what industry experts say is ahead for uranium!

A subsequent press release from the firm applauded US President Donald Trump and the Nuclear Fuel Working Group (NFWG) for “restoring and revitalizing American nuclear energy.”

Both the president and the NFWG have determined that a national uranium stockpile filled with domestically produced uranium would be advantageous to the US.

“The Uranium Producers of America (UPA) thank President Trump for his leadership in forming the US NFWG and recognizing that the challenges facing the domestic uranium industry are an issue of national security,” reads the company’s statement.

“We applaud the NFWG for recommending both immediate and longer-term measures necessary to reinvigorate the domestic uranium mining and conversion industries.”

 4. Cameco (TSX:CCO)

Year-to-date gain: 20.6; current share price: C$14.35 

Leading publicly traded uranium producer Cameco operates some the largest uranium projects in the world. The miner’s primary assets are the Cigar Lake property and the McArthur River mine (on care and maintenance), both located in the Athabasca Basin of Saskatchewan.

In April, Cameco extended a Q1 production suspension at Cigar Lake.

“The global challenges posed by this pandemic are not abating — in fact, they are deepening,” Tim Gitzel, president and CEO, said at the time.

He added, “We therefore need to stay vigilant and do everything we can to keep people and families safe. We are especially sensitive to the situation in the remote, isolated communities of northern Saskatchewan that are home to a sizeable portion of the workforce at Cigar Lake.”

Although the company’s share price is up just 20 percent year-to-date, it has rocketed up an impressive 84 percent since falling to a seven year low of US$7.94 in March.

Shares of Cameco hit a quarterly high of US$15.40 on May 5.

5. NexGen Energy (TSX:NXE)

Year-to-date gain: 18.9 percent; current share price: C$1.93 

Another uranium developer focused on the prolific Athabasca Basin is NexGen Energy. The company holds a portfolio of projects and discoveries including the Arrow deposit, the Bow discovery, the Harpoon discovery and Arrow South.

On May 30, NexGen closed a US$30 million financing with Queen’s Road Capital.

“Proceeds from the financing will be used to the fund the permitting and development of the company’s Rook I project, which hosts the 100 percent-owned Arrow deposit, and for general corporate purposes,” reads the announcement.

NexGen’s share price marked a Q2 high of C$2.06 on June 5.

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.

 

Top Uranium Stocks to Watch

 
Find out what industry experts say is ahead for uranium!
<< 3 Uranium Stocks to Watch in 2020

Get the latest Uranium Investing stock information

Get the latest information about companies associated with Uranium Investing Delivered directly to your inbox.

Uranium Investing

Select None
Select All

8 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.

Leave a Reply