Top 4 ASX Uranium Stocks of 2025

1. Deep Yellow (ASX:DYL)

Year-to-date gain: 58.74 percent
Market cap: AU$1.88 billion
Share price: AU$1.77

Deep Yellow is a uranium company advancing its flagship Tumas and Mulga Rock projects located in the top uranium-producing countries of Namibia and Australia, respectively. Its uranium portfolio also includes the Omahola project and the Nova and Yellow Dune joint ventures, all in Namibia, and the Alligator River project in Australia.

Deep Yellow reported progress across its uranium portfolio in Q3. At the Tumas project, engineering and off-site infrastructure work continued. According to the release, first production is on track for the third quarter of 2027.

At Mulga Rock, pilot testwork confirmed uranium, base metal and rare earth recoveries, with the revised definitive feasibility study advancing. Fieldwork and drilling are ongoing at the Alligator River project.

In October, Deep Yellow reported results from shallow reverse-circulation drilling at its S Bend and Tinkas prospects, both of which are located adjacent to Tumas. The company's S Bend drilling totalled 452 holes for a combined length of 3,361 metres and occurred between July 9 and September 22, while drilling at Tinkas ran between September 23 and October 14, with 105 holes completed for 1,137 metres during that time period.

Deep Yellow saw a year-to-date high of AU$2.46 on October 16, shortly after it announced that the drilling at the S Bend prospect "identified uranium mineralisation with thicknesses up to 8 metres from surface," with about one third of the drill holes containing mineralisation grading more than 100 parts per million (ppm) over at least 1 metre.

The company highlighted its potential to add to Tumas's mineral resource and extend the life of mine.

Later in the month, Deep Yellow announced it similarly identified thick, near-surface uranium mineralisation of up to 11 metres at the Tinkas prospect, with 27 percent of the holes returning uranium mineralisation over at least 1 metre at grades above 100 ppm uranium equivalent.

2. Aura Energy (ASX:AEE)

Year-to-date gain: 24 percent
Market cap: AU$147 million
Share price: AU$0.155

Aura Energy is exploring and developing uranium and polymetallic projects in Africa and Europe. The company’s most advanced asset is the Tiris uranium project in Mauritania. The 2024 FEED study on Tiris demonstrates the potential for a near-term, low-cost uranium mine producing 2 million pounds of U3O8 per year over a 25 year mine life.

Aura is hoping to bring the Tiris uranium mine into production in 2027.

Additionally, Aura wholly owns the Häggån vanadium-potash-uranium project in Sweden, which contains one of the world's largest uranium deposits, according to the company. Sweden currently has a ban on uranium mining, but the country's current government is taking steps toward lifting it to support the country's nuclear energy production.

On August 1, Aura executed two agreements for U3O8 from the Tiris project: a long-term offtake agreement with a major US-based nuclear utility, and a master spot sales agreement with a leading global uranium trading group.

The company released its September quarter results on October 21, highlighting continued momentum across its uranium projects. At the Tiris project, Aura reported the progression of discussions with multiple potential strategic investors, as well as debt funding negotiations with the US International Development Finance Corporation. The company is now targeting a final investment decision in the first half of 2026.

Additionally, Aura applied for an exploitation concession at the Häggån project.

Shares of Aura began climbing in late August following the news of Sweden potentially lifting its uranium ban. They continued upwards through September to reach a year-to-date high of AU$0.27 on September 24.

In early November, the Swedish government voted to overturn the uranium ban effective January 1, 2026.

“The change in legislation means that it will be possible to apply for permits to explore for and extract uranium from January 1st, 2026,” the company commented in a statement. “In September 2023, the Company published a Scoping study for Häggån which was constrained by the uranium mining prohibition. The Company will now examine options to include uranium in its future plans and will increase its investment in exploration activity in Sweden.”

At the end of November, the company was granted an exploration permit by Sweden's Mining Inspectorate for the Gräsmyråsen nr 1 tenement, which covers just over 1,000 hectares adjacent to its Häggån property.

3. Paladin Energy (ASX:PDN)

Year-to-date gain: 17.92 percent
Market cap: AU$4.22 billion
Share price: AU$8.95

Based out of Western Australia, Paladin Energy's main focus is uranium mining, and it currently has one active mine: Langer Heinrich in Namibia, of which it owns 75 percent.

The company also has an exploration portfolio that spans both Canada and Australia, including the Patterson Lake South (PLS) project, home to the Triple R uranium deposit, in Canada's Athabasca Basin.

Paladin Energy paused operations at Langer Heinrich in 2018 amid persistently low uranium prices, but began a restart process in 2022, bolstered by a successful share purchase plan. The mine resumed commercial uranium production on March 30, 2024, processing stockpiled ore before open pit mining resumes.

Production was temporarily suspended at Langer Heinrich in March after the mine experienced a rare weather event that brought unseasonal heavy rains, disrupting site access and mining operations; it had resumed by month's end.

In Canada, Paladin received a key exemption from the federal non-resident ownership policy for PLS, allowing it to advance development. The firm also signed mutual benefit agreements with two First Nations near the project.

In early June, Paladin released results from PLS drilling, which primarily targeted the Saloon East discovery.

Ian Purdy, then CEO of Paladin, stated, "The drilling results at Saloon East represent the strongest radioactivity intersected on the PLS property to date outside of the Triple R deposit. All eleven Saloon East drillholes completed to date in 2025 intersected radioactivity and have provided exciting results over significant core lengths."

Paladin also finished a detailed engineering review of its PLS project in July, confirming the scale and economics of the Triple R uranium deposit. The review left life-of-mine production unchanged at 90.9 million pounds of U3O8, with average annual output of 9.1 million pounds, while updating average cash operating costs to US$11.70 per pound and average all-in sustaining costs to US$15.20 per pound.

In its most recent quarterly results, Paladin reported a strong start to the 2025/2026 financial year. The Langer Heinrich mine ramp-up was progressing as planned, with material mined up 63 percent quarter-on-quarter and record post-restart quarterly production of 1.07 million pounds of U3O8.

Additionally, the quarter included a completed AU$300 million equity raise, a strengthened balance sheet, new leadership under CEO and Managing Director Paul Hemburrow and the aforementioned positive engineering review.

The positive quarterly results pushed shares to a year-to-date high of AU$9.93 on October 15.

4. Bannerman Energy (ASX:BMN)

Year-to-date gain: 8.83 percent
Market cap: AU$699.8 million
Share price: AU$3.08

Bannerman Energy is a uranium development company headquartered in Perth.

Its primary focus is its Etango uranium project in Namibia. Bannerman has developed a base-case development plan for Etango using an 8 million tonne per year throughput rate, which it has dubbed Etango-8.

Etango is located on one of the world’s largest untapped uranium resources within Namibia’s established uranium-mining district, and the Etango-8 mine life would be 15 years.

During the most recent quarter, Bannerman Energy advanced its Etango project, with continuing early works construction on budget and schedule and achieving key engineering and power milestones. Additionally, it signed two offtake agreements for 1 million pounds of combined U3O8 over five years starting in 2029. The company reported a strong cash position of AU$111.8 million, supporting its progress toward a potential final investment decision.

Following the release, company shares hit a year-to-date high of AU$4.02 on October 16.

In mid-December, Bannerman unveiled its 2025 Sustainability Score Card, highlighting 16 years without a lost time injury and success on its 3P strategy: people, planet and performance. The report also includes goals for 2026.