Uranium project developer Atomic Eagle Ltd (ASX: AEU) was formed late last year through the reverse takeover of GoviEx Uranium by Tombador Iron.

Since that time, it has been proving up the resources at its Muntanga heap leach uranium project in Zambia, as well as progressing studies at the Madaouela project in Niger, which it owns a 60% stake in.

Broker Morgans has recently initiated coverage of the company with a speculative buy recommendation and a very bullish share price target, which I’ll get to shortly.

First, let’s have a look at the company’s projects.

Zambian project coming together well

Atomic Eagle’s flagship asset is the Muntanga project, where it has to date proved up a resource of 58.8 million pounds of uranium.

The company currently has drilling ongoing at Muntanga, and recently said new drilling at Muntanga North had identified a zone of uranium mineralisation that remains open along strike and down dip.

Atomic Eagle Chief Executive Officer Phil Hoskins said of the program:

The objective of our 30,000m drilling program is to grow the Muntanga resource base while systematically testing a portfolio of exploration targets across the broader Project area. Earlier drilling at Chisebuka delivered encouraging results and is expected to support future resource growth. We are further encouraged by the results at Muntanga North, where wide-spaced drilling has identified a zone of uranium mineralisation that remains open along strike and down dip to the east. We are over half-way through an active exploration program, with the large-scale Muntanga North Targets 6 to 8 still to be tested.

Atomic Eagle also recently said in a statement to the ASX that it had started a technical review of the Madaouela project, designed to “evaluate opportunities to increase project scale, expand the mining inventory and enhance project economics relative to the earlier 2022 Feasibility Study undertaken by GoviEx”.

Madaouela currently has a resource of 116 million pounds of uranium, and US$160 million has been spent on the project to date.

Shares looking cheap, broker says

Morgans, in its new research note on the company, said it was currently being valued on Muntanga alone.

They said that the project was “capital light”, and they had confidence in the board, which had experience bringing uranium projects into production.

Morgans has a price target of 80 cents per share on Atomic Eagle, compared to 35 cents currently.

They added:

Most of the value is currently derived from Muntanga via a discounted cash flow valuation with a 10.5% weighted average cost of capital, supplemented by risked value for undeveloped resources, AEU’s interest in Madaouela and unpaid capital via current options. We believe the market is discounting Madaouela and resource growth potential, creating an attractive entry point for long-term investors.

Atomic Eagle is valued at $134.2 million.

The post Could this ASX uranium developer more than double in value? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

It hasn’t been an easy period for Australian bank shareholders.

National Australia Bank Ltd (ASX: NAB) shares have lost substantial ground from their highs, with investors becoming increasingly cautious about the economic outlook.

But could that weakness be creating a buying opportunity?

Here’s how I see it.

What makes NAB shares worth considering?

One reason I have always liked NAB is its strong position in Australian business banking.

The bank has established relationships with businesses of all sizes, providing everything from everyday banking and payment services to financing for expansion and investment.

I think that gives NAB an attractive position in the Australian economy. As businesses grow, their banking requirements often become more complex, creating opportunities for NAB to deepen those relationships and generate additional revenue.

The bank also has a substantial presence in residential mortgages and deposits, providing another important source of earnings.

For me, that combination makes NAB a solid long-term business. It has several ways to generate profits, an established customer base, and the financial strength to reward shareholders with regular dividends.

Of course, the economic environment will influence how much those businesses can grow over the next few years.

What do rising interest rates mean?

This is probably the biggest question facing NAB and the other major banks right now.

Interest rates have been rising as the Reserve Bank of Australia attempts to bring inflation under control, and further increases could be on the way in the coming months.

For NAB, higher rates create opportunities and challenges. Banks can benefit when lending rates rise faster than the interest they pay on deposits, supporting their net interest margins.

But that benefit depends on competitive conditions. Banks are also competing hard for deposits and mortgage customers, which can limit how much additional profit they generate from higher rates.

There is also the impact on borrowers to consider. More expensive mortgages and business loans can reduce demand for credit, while prolonged pressure on household and business finances could eventually lead to higher bad debts.

I think NAB is well placed to manage these conditions, but I would not expect particularly strong earnings growth while the economy adjusts to higher borrowing costs.

Has the share price fallen far enough?

NAB shares are trading around $38.62 on Tuesday, well below their 52-week high of $49.45. That represents a decline of approximately 22%.

At this lower price, I think investors are getting a more reasonable entry point into a business that should remain profitable through the economic cycle.

Consensus forecasts point to earnings per share (EPS) of $2.38 in FY26 and $2.54 in FY27. That is modest growth, but it puts NAB on approximately 15 times forecast FY27 earnings at the current share price.

I think that looks reasonable for a major Australian bank with NAB’s established market position.

There is also a healthy dividend to consider. Analysts expect NAB to pay fully franked dividends of $1.70 per share in FY26 and $1.72 in FY27.

At today’s price, the FY27 forecast represents a dividend yield of approximately 4.5%, before franking credits.

For income investors, I think that provides another reason to consider the shares, particularly if the bank can maintain its profitability while interest rates remain elevated.

Foolish takeaway

I think NAB shares are worth buying around $39.

The next year could be challenging for the banking sector, and I would keep my expectations for earnings growth fairly modest.

But I like NAB’s business banking franchise, and the recent share price weakness has made the valuation more reasonable.

With a healthy dividend on offer as well, I would be comfortable buying at current levels and holding for the long term.

The post Should smart investors be buying NAB shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino 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.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.2% to 8,769.2 points on Tuesday.

4DMedical Ltd (ASX: 4DX) shares are the fastest risers of the ASX 200 today, up 4.7%.

Vulcan Energy Resources Ltd (ASX: VUL) shares are the biggest fallers, down 8.5%.

Meanwhile, on The Bull this week, three experts share their ratings and insights on three ASX shares.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat share price is 24 cents, down 1.2% today and up 15% over 12 months. 

Tom Fairchild from Lazarus Capital Partners has a buy rating on this ASX lithium share. 

Fairchild said: 

This developer is fast-tracking the Tabba Tabba lithium project near Port Hedland in Western Australia. The project is located near some of the world’s largest lithium mines.

Macro tailwinds help drive the company’s investment case. Electric vehicles and fast growing industrial battery storage drive lithium demand. Australia is the world’s largest lithium producer, and the Federal Government offers incentives to grow critical minerals projects.

Tabba Tabba hosts 74.1 million tonnes at 1 per cent lithium oxide. A definitive feasibility study is well advanced. Wildcat is drilling the nearby Bolt Cutter lithium discovery and is well funded.

Ramsay Health Care Ltd (ASX: RHC)

The Ramsay Health Care share price is $54.58, up 1% today and up 71% over 12 months. 

Blake Halligan from Gray Perry Wealth Advisers has a hold rating on this ASX 200 healthcare share. 

Halligan said: 

Ramsay Health Care is one of the largest private hospital operators in Australia, with additional operations in the UK and Europe.

Revenue increased 4.2 per cent in constant currency in full year 2006 when compared to the prior corresponding period. Underlying earnings before interest and tax were up 11.8 per cent, supported by improved activity, theatre utilisation and higher margins.

Management expects further revenue growth and margin improvement in full year 2027.

Ramsay’s scale and exposure to growing health care demand support its longer term outlook.

However, labour cost pressures and a strong share price rise following the full year results reduce the margin of safety.

Commonwealth Bank of Australia (ASX: CBA)

The Commonwealth Bank of Australia share price is $151.41, up 0.3% today and down 8% over 12 months. 

Philippe Bui from Medallion Financial Group has a sell rating on CBA shares.

He explained: 

This bank delivered another strong result in full year 2026. The company posted cash profit of $10.982 billion in full year 2026, up 7 per cent on the prior corresponding period. The full year dividend of $5.05, fully franked, was up 4 per cent.

CBA’s scale, customer franchise and technology investment underpin the company’s quality. Nevertheless, we believe the valuation leaves insufficient room for disappointment.

Mortgage competition, operating costs and the potential for credit losses to normalise remain risks.

We favour taking profits and re-allocating capital to other companies where earnings growth and income offer a more compelling prospective return.

The post Buy, hold, sell: Wildcat Resources, Ramsay Health Care, CBA shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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.