Boss Energy Ltd (ASX: BOE) shares are under pressure on Thursday.
In morning trade, the uranium producer’s shares are down 3% to $1.49.
Why are Boss Energy shares falling?
Investors have been selling the company’s shares today following the release of its quarterly update.
According to the release, Boss Energy’s Honeymoon operation reported third-quarter production of 203,000 pounds of U3O8 drummed, which is down 56% quarter on quarter.
This was achieved with a C1 cost of $60 per pound (US$41 per pound), which is double what it recorded in the last quarter.
Management advised that this reflects adverse weather conditions and expected declines in tenor.
One thing that remained flat was its average realised price, which was US$74 per pound.
Sales volumes fell 7% to 325,000 pounds, and its cash and liquid assets balance improved 2% to A$211 million.
Guidance downgraded
In light of its tough quarter, Boss Energy has downgraded its FY 2026 production guidance.
It now expects production of 1.40 Mlbs to 1.45 Mlbs U3O8 drummed, from its previous guidance of 1.6 Mlbs U3O8 drummed.
The company’s FY 2026 C1 cost guidance of $36-$40 per pound (US$24-US$26 per pound) and AISC guidance of $60-$64 per pound (US$40-US$42 per pound) have been reconfirmed but towards the upper end of their guidance ranges.
Boss Energy’s CEO and managing director, Matthew Dusci, acknowledged that it was a tough quarter. He said:
Operationally, this was a difficult quarter for the business. Production at Honeymoon of 203 klbs U3O8 was below our expectations. As a result, we have revised our FY26 production guidance to 1.40 Mlbs to 1.45 Mlbs U3O8. The primary driver was the impact of heavy and repeated rainfall events during March, which restricted access to site and limited the delivery of key reagents required to maintain stable leaching conditions. This was compounded by the knock-on effect of delays in commissioning critical infrastructure.
Costs increased during the quarter, mainly reflecting lower uranium production. We remain on track to meet full-year cost guidance, albeit towards the upper end of the guidance range.
Following today’s move, Boss Energy shares are now down over 50% since this time last year.
It is also worth noting that its shares are among the most shorted on the Australian share market. At the last count, it had 11.3% of its shares held short.
The post Boss Energy shares tumble on guidance downgrade appeared first on The Motley Fool Australia.
Should you invest $1,000 in Boss Energy Ltd right now?
Before you buy Boss Energy Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boss Energy Ltd wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Buy, hold, sell: Macquarie, Boss Energy, CBA shares
- Down 42% in a year, are Boss Energy shares now a bargain buy?
- These are the 10 most shorted ASX shares
- These are the 10 most shorted ASX shares
- Should you buy Boss Energy shares for uranium exposure?
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.