News last week of
-
-Only six Japanese reactors currently operating
-The news boosts uranium equities
In the wake of the 2011 Fukushima disaster,
Japanese nuclear policy has flip-flopped with changes in government in the interim, and a lot of resistance has been met at the local level to reactor restarts. But the situation has changed.
In a policy shift that aims to return
Immediately following the announcement, uranium equities shot up up significantly.
Uranium equities had already been boosted by the passage of the nuclear-supportive US Inflation Reduction Act into law the week before. Industry-specific developments allowed relevant stocks to avoid the carnage wrought on Friday by
However, in another quiet summer week in the spot uranium market, the last transactions were booked on the Thursday ahead of said speech. Industry consultant
Given speculative investor interest has dominated the spot market over the last year of financial turmoil, spot uranium prices have been beholden to general financial market volatility. Whether the Japanese news can offset Friday's Fed-driven market crunch remains to be seen.
There is no such volatility in uranium term markets, which is where actual end-users seek delivery contracts with actual producers. Term markets have been dominated since February by the war in
Australian-listed
The project is on track and uranium prices remain supportive, with Macquarie making no changes to its forecast of positive earnings from FY24.
Uranium companies listed on the ASX:
ASX CODE | DATE | LAST PRICE | WEEKLY % MOVE | 52WK HIGH | 52WK LOW | P/E | CONSENSUS TARGET | UPSIDE/DOWNSIDE |
---|---|---|---|---|---|---|---|---|
BKY | 0.3300 | 0.00% | ||||||
BMN | 2.3700 | 14.04% | ||||||
BOE | 2.5900 | 3.03% | 0.4% | |||||
ERA | 0.2600 | 0.00% | ||||||
LOT | 0.2700 | 19.05% | ||||||
PDN | 0.8500 | 13.24% | -136.4 | 5.9% | ||||
PEN | 0.1900 | 13.33% | ||||||
VMY | 0.1900 | 0.00% |
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