Would I be crazy to buy Boss Energy shares at $5.50?

Unless you’ve been investing under a rock, you’ll probably be aware of the huge gains that owners of ASX uranium shares like Boss Energy Ltd (ASX: BOE) have been enjoying in recent weeks and months.

Boss Energy shares have been on an absolute tear lately. This ASX uranium stock was going for just $2 a share in March last year. But today, Boss shares are sitting at $5.46 each, after hitting a new all-time high of $5.64 earlier this morning.

That puts the company up a whopping 35% in 2024 to date, and up an even better 128% over the past 12 months:

So we’ve established that Boss Energy shareholders have been a lucky lot in recent times. But what about an investor looking to buy Boss shares today? Is it too late to get in at $5.50 a share?

Are Boss Energy shares a buy at $5.50?

Well, expert opinion on this uranium stock remains a little mixed.

Earlier this month, my Fool colleague James covered the opinion of ASX broker Macquarie. Macquarie did give Boss an outperform rating. However, it also slapped a $5 share price target on the company, which is obviously well below Boss’ current share price.

However, at the time, Boss Energy shares were well under $5. Macquarie noted that Boss has recently signed its maiden sales contract, and reckons the company is well placed to take advantage of the recent surge in uranium prices.

However, another ASX expert isn’t quite as optimistic. The Bull recently covered the views of John Athanasiou of Red Leaf Securities. Athanasiou rated Boss as a sell, despite the surge in uranium prices.

He argued that Boss Energy “shares have risen too quickly and appear priced to perfection, leaving little or no room for error”.  Athanasiou advised investors to consider “pocketing a profit”.

As such, it seems that at least these two ASX experts are wary of Boss Energy shares at $5.50 each. Something for those jubilant Boss investors to keep in mind with today’s new record high for the company.

The post Would I be crazy to buy Boss Energy shares at $5.50? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• The shocking admission catapulting ASX uranium shares to record highs today
• ASX uranium shares crack new highs AGAIN as spot price flies past US$100 per pound
• Why Boss Energy, Core Lithium, Pinnacle, and Syrah shares are rising today
• Boss Energy shares up 23% in 2024. Is it too late to buy?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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