Category: Stock Market

Australian home and business owners are now paying back more than two more percentage points in interest than they were just four months ago.

The Reserve Bank of Australia is deliberately trying to slow the economy to bring inflation under control. But this means that there will be some pain.

Whether the central bank can bring Australia in for a “soft landing” or drive it into recession for a “hard landing” remains to be seen. But everyone will feel some sort of landing on their bottom.

So in times like these, it might be prudent to think about which ASX shares may not be as affected by economic downturns.

Some experts have suggested healthcare might be one of those sectors.

After all, regardless of how much money is available in the wallet, you have to heal from an injury or illness. It is the opposite of a discretionary spend.

If you think this strategy makes sense, there are two ASX shares that experts are recommending as buys right now:

International business attracting takeover interest

Ramsay Health Care Limited (ASX: RHC) shares have lost about 16% since April, and only gained 8.5% over the past five years.

But that’s not the whole story.

That whole time, the company has been locked in tense negotiations with a private consortium led by KKR & Co, which wants to buy out the health facilities operator.

After months of to-ing and fro-ing, the situation came to a head last month.

“A consortium of investors led by KKR has withdrawn its non-binding indicative proposal to acquire Ramsay Health Care, a private hospital operator in Australia, Asia, the United Kingdom and France,” Shaw and Partners senior investment advisor Jed Richards told The Bull.

It seems KKR’s team became frustrated with being unable to perform due diligence on Ramsay’s European arm. That division is a separately listed company, which competes with a business that KKR already partly owns.

Putting aside the takeover saga, Richards reckons Ramsay has a bright outlook anyway.

“Regardless, RHC is well positioned post-COVID-19 to expand its Australian capacity.”

If it didn’t, private equity would not be so interested in acquiring the business.

Cancer treatments going to market

Telix Pharmaceuticals Ltd (ASX: TLX) is very much a different investment to Ramsay. As a pharmaceutical business only just starting to get products out into the market, it’s very much a growth stock.

This year has seen huge progress towards sustainable revenues, which has prompted BW Equities equities salesperson Tom Bleakley to declare the stock as a buy.

“This bio-pharmaceutical company has launched its prostate cancer imaging product,” he said.

“The drug Illuccix has been approved by the US Food and Drug Administration to detect early stage 4 prostate cancer. Initial sales of Illuccix have been strong since the first commercial dose was administered on April 14, 2022.”

Indeed, since that time the share price has risen 22.5%.

But it has cooled off more than 29% since 11 August, which may have opened up a buying opportunity.

Bleakley points out Illuccix is not the only egg in Telix’s basket.

“Telix is progressing nuclear medicine trials for therapy of late stage prostate cancers.”

The post 2 healthcare ASX shares ready to go off like a cracker: experts appeared first on The Motley Fool Australia.

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More reading

• These ASX 200 shares are going ex-dividend on Monday
• 6 ASX shares Morgans would buy right now
• Leading brokers name 3 ASX shares to buy today
• Ramsay share price plunges 4% after suitor withdraws takeover offer
• Ramsay shares halted after earnings slashed and takeover letter lands

Motley Fool contributor Tony Yoo has positions in TELIXPHARM DEF SET. 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 recommended Ramsay Health Care Limited. 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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If you’re aiming to lift your income with some dividend shares, then you might want to consider the two listed below.

Here’s what you need to know about these dividend shares:

National Australia Bank Ltd (ASX: NAB)

The first ASX dividend share that could be a good option right now for income investors is this banking giant.

NAB appears well-placed to profit in the current environment with rates rising and its overweight exposure to commercial lending.

It is because of the latter that Goldman Sachs is positive on the bank. It sees “volume momentum over the next 12 months as favouring commercial volumes over housing volumes and NAB provides the best exposure to this thematic.”

The broker currently has a buy rating and $34.63 price target on the bank’s shares.

In addition, Goldman is expecting some attractive dividend yields from NAB’s shares. It is forecasting a $1.50 per share dividend in FY 2023 and then a $1.70 per share dividend in FY 2024. Based on the current NAB share price of $30.24, this will mean fully franked yields of 5% and 5.6%, respectively.

South32 Ltd (ASX: S32)

It isn’t just NAB that potentially offers decent upside and attractive yields. The same is being said about South32.

The diversified mining and metals company, which has operations spanning the likes of alumina, aluminium, copper, energy and metallurgical coal, manganese, nickel, silver, and zinc, has been tipped as a buy by analysts at Citi.

Following the release of South32’s full year results, the broker commented that its “costs increases are modest; [and it is] still a cheap(ish) FY24 recovery play.”

Citi has a buy rating and $4.65 price target on the company’s shares.

As for dividends, the broker is forecasting a 28 cents per share dividend in FY 2023 and then a 34 cents per share dividend in FY 2024. Based on the current South32 share price of $4.14, this will mean fully franked yields of 6.8% and 8.2%, respectively.

The post Experts say these 2 ASX dividend shares are buys appeared first on The Motley Fool Australia.

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More reading

• Why ASX bank shares are more likely to slowly grind lower than crash, despite famed Wall Street bear saying it’s time to short them
• Are NAB shares worth buying in September?
• Is this why the Macquarie share price was ‘steaming ahead’ on Friday?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the ASX 200 diving 2% on Tuesday?

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.

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On Tuesday, late selling sent the S&P/ASX 200 Index (ASX: XJO) into the red. The benchmark index fell 0.4% to 6,826.5 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall again on Wednesday following a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.6% lower this morning. On Wall Street, the Dow Jones fell 0.55%, the S&P 500 dropped 0.4%, and the Nasdaq fell 0.75%.

Oil prices drop

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough day after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.2% to US$86.69 a barrel and the Brent crude oil price has fallen 3.3% to US$92.61 a barrel. Traders were selling oil amid demand concerns.

Metcash AGM and update

The Metcash Limited (ASX: MTS) share price will be on watch on Wednesday when the wholesaler holds its annual general meeting. Metcash traditionally releases a trading update at the meeting for the first quarter of the financial year. When the company released its full year results in June, it revealed that trading had been strong early in FY 2023. At that point, group sales were up 8.6% for the first seven weeks thanks to growth in all pillars.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor day after the gold price traded lower overnight. According to CNBC, the spot gold price is down 0.65% to US$1,711.2 an ounce. The gold price fell after the US dollar rallied and bond yields rose.

ASX 200 shares going ex-dividend

A number of ASX 200 shares are due to trade ex-dividend this morning and could drop into the red. This includes packaging giant Amcor (ASX: AMC), logistics solutions company Brambles Limited (ASX: BXB), healthcare company Healius Ltd (ASX: HLS), private health insurer Medibank Private Ltd (ASX: MPL), and job listings giant Seek Limited (ASX: SEK).

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Morgans names 3 of the best ASX shares to buy in September
• What happened to Woodside shares on Tuesday?
• Should all ASX investors be buying defensive shares right now?
• ‘We would like to see faster progress’: ASX 200 energy shares on notice
• Why are ASX 200 gold shares having such a hard time of it in 2022?

Motley Fool contributor James Mickleboro has positions in SEEK Limited. 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 positions in and has recommended Amcor Limited. The Motley Fool Australia has recommended SEEK Limited. 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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If you’re a growth investor and have room for in your portfolio for some new additions in September, then it could be worth considering the two ASX growth shares listed below.

Here’s what you need to know about these buy-rated shares:

Lovisa Holdings Limited (ASX: LOV)

The first ASX growth share to look at is fast-fashion jewellery retailer Lovisa.

While its shares have been on fire since the release of an exceptionally strong full year result for FY 2022, the team at Macquarie still sees plenty of room for them to climb even higher.

According to a recent note, the broker has retained its outperform rating and lifted its price target to $27.70.

Based on the current Lovisa share price of $22.87, this implies potential upside of 21% for investors over the next 12 months.

Macquarie was impressed with Lovisa’s strong performance in FY 2022 and believes more of the same is coming. Particularly given its exposure to the lower price point costume jewellery category and younger consumers. The broker feels this area of retail is likely to perform well during an economic downturn.

Megaport Ltd (ASX: MP1)

Another ASX growth share that has been tipped as a buy is Megaport.

It is the global leader in elastic interconnection services, using software defined networking to rapidly connect users’ networks to other services across the Megaport Network.

Goldman Sachs is a big fan of the company and has a buy rating and $10.30 price target on its shares. Based on the current Megaport share price of $7.26, this implies potential upside of 42% for investors over the next 12 months.

The broker believes Megaport is well-placed for strong long term growth thanks to its product leadership in the rapidly growing network as a service/SD-WAN addressable markets.

The post Analysts say these exciting ASX growth shares have at least 20% upside appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• 3 ASX All Ords shares smashing new highs on Monday
• Why Allkem, Capricorn Metals, Lovisa, and Pilbara Minerals shares are rising today
• Here’s why the Lovisa share price leapt 8% on Monday
• Why these 3 ASX shares could be in for a massive boost this month

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 positions in and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended Lovisa Holdings Ltd and MEGAPORT FPO. 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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The S&P/ASX 200 Materials Index (ASX: XMJ) closed 0.7% lower on Tuesday, but three ASX lithium shares bucked the trend.

The Global Lithium Resources Ltd (ASX: GL1), Zenith Minerals Limited (ASX: ZNC), and Power Minerals Ltd (ASX: PNN) share prices all lifted today.

Let’s take a look at what’s going on with these companies.

Power Minerals

Shares in Power Minerals rose 10.2% today despite no news from the company. However, multiple ASX lithium shares lifted today.

Among the big players, the Core Lithium Ltd (ASX: CXO) share price soared 9.93% while Pilbara Minerals Ltd (ASX: PLS) jumped 7%. This follows JP Morgan upgrading Pilbara to outperform and boosting its price target to $4.10.

Analysts are predicting the lithium market could be undersupplied until 2025. The broker also lifted its price target for lithium carbonate to 20% and predicted spodumene prices to surge by 25%.

On Friday, Power Minerals announced drilling will commence at the Salta Lithium-Brine Project in northwest Argentina.

Global Lithium Resources

The Global Lithium Resources share price soared nearly 12% today.

It seems investors were buying up shares amid optimism for the lithium market today. Also, the company advised an extra reverse circulation drilling rig is now in use at the Manna Lithium project, located in Western Australia, 100km east of Kalgoorlie.

The second rig will provide Global Lithium will more drilling information ahead of the Mineral Resource Estimate (MRE). Global Lithium plans to provide an update on the MRE in late 2022.

Commenting on the news, geology head Stuart Peterson said:

With the addition of the second RC rig from K-Drill, along with the double shifting Diamond rig, the geological information flow from the Manna Lithium Project is the highest it’s ever been.

Zenith Minerals

The Zenith Minerals share price leapt nearly 7% today. Zenith is exploring lithium and other battery metals. Today, the company advised it has defined a new nickel, copper and platinum drill target at the Waratah Well project in Western Australia.

This project is a joint venture with the EV Metals Group. The companies are also exploring lithium at the site. Drill testing will take place between late September and early October.

Zenith managing director Michael Clifford said:

The Ni-Cu-PGE target fits within our strategy of battery minerals leveraged to the increasing global demand for metals critical to the production processes of new energy industrial sectors

The post 3 little-known ASX lithium shares that rocketed today appeared first on The Motley Fool Australia.

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More reading

• Global Lithium shares edged higher today amid ‘very promising’ results
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Global Lithium share price rocketing 13% on Wednesday?

Motley Fool contributor Monica O’Shea 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.

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It ended up being a fairly disappointing day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) on Tuesday. As of market close, the ASX 200 went backwards by 0.38%, giving up the gains that we saw early in the session. But it was a different story for one of the ASX 200’s incoming members Sayona Mining Ltd (ASX: SYA) shares.

The Sayona Mining share price ended up having a cracking day. The ASX lithium share closed at 25.5 cents apiece yesterday. But by the end of today’s trading session, the company had risen to 27 cents per share, a healthy gain of 5.88%.

So what went so right for this ASX lithium up-and-comer?

Why did the Sayona Mining share price leap higher on Tuesday?

Well, we don’t know for sure, unfortunately. There hasn’t been much in the way of news or announcements from Sayona recently. Its most recent ASX release was put out after close last Friday, informing the markets that the company would be joining the ASX 200 index later this month.

However, we did get some news regarding one of Sayona’s peers in the ASX lithium space today. This could have had an impact.

As my Fool colleague Tristan comprehensively covered this afternoon, brokers at JP Morgan have taken another look at the Pilbara Minerals Ltd (ASX: PLS) share price and liked what they saw.

The broker upgraded Pilbara shares to an outperform rating, with an improved 12-month share price target of $4.10. This upgrade is due to JP Morgan’s view that the global lithium market will remain tight for many years to come, giving Pilbara (and other ASX lithium shares) a powerful tailwind.

The broker also raised its long-term forecast for lithium carbonate and spodumene prices by 20% and 25% respectively. This would also bode well for all ASX lithium shares.

Perhaps in response, the Pilbara share price rose a pleasing 7.03% today to $3.96 a share today. It also looks as though this optimism has flowed onto other ASX lithium shares, including the Sayona mining share price. No doubt that will be welcomed by shareholders.

At the last Sayona Mining share price, this ASX lithium share has a market capitalisation of $2.24 billion.

The post Why did the Sayona Mining share price shoot 6% higher today? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why Karoon Energy, Pilbara Minerals, PointsBet, and Whitehaven Coal are rising
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why broker JP Morgan just upgraded the Pilbara Minerals share price
• Here are the top 10 ASX 200 shares today

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen has positions in JPMorgan Chase. 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.

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The New Hope Corporation Limited (ASX: NHC) share price finished Tuesday’s session up a healthy 6.12% at $5.72. This came after the ASX coal miner hit a new 10-year high of $5.79 just moments before market close.

For context, the S&P/ASX 200 Energy Index (ASX: XEJ) gained just 0.5% for the day. Elsewhere though, other ASX coal shares also enjoyed a stellar session on Tuesday. The Whitehaven Coal Ltd (ASX: WHC) share price notched up its own all-time high, finishing the day 3.65% higher, while Yancoal Australia Ltd (ASX: YAL) shares finished 6.34% higher.

New Hope shares reached the 10-year milestone despite there being no news from the company today. However, macro tailwinds have been developing, boosting ASX coal miners. Let’s go over the highlights.

What’s been boosting New Hope?

New Hope shares enjoyed strong gains today on the back of some positive news for the sector overall. Firstly, as reported by The Australian Financial Review, despite increasing global pressure to reduce reliance on fossil fuels, Prime Minister Anthony Albanese has reiterated that Australia will continue to be a key international supplier of energy materials like gas and coal.

Speaking at the annual Minerals Council of Australia dinner on Monday night, he said:

Australia will continue to be a trusted and stable supplier of energy and resources to our key trading partners. As we work with other nations to reduce emissions globally, we will continue to be a reliable provider of energy.

Secondly, the global energy continues to worsen, boosting the demand for coal and sending profits soaring for Australia’s largest coal mining shares.

Over the weekend, Russia shut down its Nord Stream 1 gas pipeline, restricting supply to several European nations and forcing them to find alternative energy supplies. This resulted in future contracts of Newcastle Coal rising to a new high of US$435 per tonne.

Meanwhile, Whitehaven Coal, which made a $1.95 billion profit for FY22, reported in its annual results release to the ASX late last month that the outlook for coal remains strong:

It is likely to take several years before additional supply or alternative energy sources are available to rebalance global supply and demand dynamics.

New Hope share price snapshot

The New Hope share price has gained a whopping 156% this year to date. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 8.3% over the same period.

The company’s market capitalisation based on the current share price is around $4.76 billion.

The post Why did the New Hope share price just surge 6% to a 10-year high? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• How are ASX 200 energy stocks performing on Tuesday?
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 coal shares smashing the market on Monday?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Matthew Farley 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.

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The team at Goldman Sachs has been busy reviewing earnings season this week.

The good news for investors is that the broker believes a few ASX shares are flying under the radar now and could be in the buy zone.

Two such ASX shares that Goldman rates highly post-earnings season are listed below. Here’s what it is saying about them:

Cochlear Limited (ASX: COH)

Goldman Sachs was impressed with this hearing solutions company’s performance in FY 2022. Particularly given the tough trading conditions it was facing. Looking ahead, the broker suspects Cochlear could hit the top of its guidance range in FY 2023. It commented:

In a highly challenging year Cochlear delivered +17% NPAT growth to reach the upper-half of the guided range. In our view, the backdrop for this year appears relatively more favourable, and we see clear scope for COH to deliver at the upper-end of another solid guidance (+8-13% to $290-305m, with further accretion possible from the Oticon Medical transaction, which is yet to close).

The broker has a buy rating and $247.00 price target on Cochlear’s shares.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Goldman highlights that this plumbing parts company’s shares have fallen since its results. It feels this was due to its soft start to FY 2023. However, the broker sees this as a buying opportunity given its defensive qualities. It said:

RWC announced FY22 results in line with both GSe and Visible Alpha Consensus on 22nd of August. The company provided an update on July trading, with sales down -3% resulting in the share price falling 7% on the day and down 19% to date. We consider RWC as more defensive within the building materials sector as a high portion of its revenues are derived from repairs in the R&R sector.

Goldman Sachs currently has a buy rating and $4.85 price target on the Reliance Worldwide’s shares.

The post Goldman Sachs says these ASX shares are flying under the radar post-results appeared first on The Motley Fool Australia.

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More reading

• How do CSL shares stack up against Cochlear following earnings season?
• Here’s why analysts say these blue chip ASX 200 shares are buys
• 3 buy-rated ASX 200 shares that analysts love
• Goldman Sachs tips Cochlear share price to rise 13%
• 5 things to watch on the ASX 200 on Monday

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 positions in and has recommended Cochlear Ltd. and Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Cochlear Ltd. and Reliance Worldwide Corporation Limited. 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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The Woodside Energy Group Ltd (ASX: WDS) share price saw some action today, lifting in earlier trade before closing flat.

Woodside Energy finished the day at $35.08, the same as yesterday’s closing price. However, in earlier trade, Woodside shares lifted by as much as 1.74%.

Much the same happened to its oil and gas peer Santos Ltd (ASX: STO). Its shares closed 0.38% lower at $7.94 apiece.

For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) closed 0.5% higher today.

Let’s take a look at what may have been impacting Woodside today.

What’s happening?

The WTI Crude Oil price is rising 2.23% to US$88.81 a barrel, Bloomberg data shows. However, the Brent Crude Oil price is down 0.63% to US$95.14 a barrel. Natural gas is also down 0.6% to US$8.73 per MMBtu.

The European energy crisis also dominated headlines overnight after Russia cut gas supply to Europe.

Woodside has just signed a flexible sale and purchase agreement with German energy company Uniper. Woodside will supply twelve cargoes of LNG, or 0.8 million tonnes of natural gas, to Europe from January 2023.

CEO Meg O’Neill said the new agreement will “provide a new source of LNG for consumers in Europe seeking alternatives to Russian gas”. She added:

It also reflects the increasingly interconnected nature of LNG trade in the Atlantic and Pacific basins as global markets respond to energy security challenges.

Meanwhile, Prime Minister Anthony Albanese has assured key trading partners Australia will “continue to be a trusted and stable supplier of energy and resources”, the Australian Financial Review reported. He commented:

As we work with other nations to reduce emissions globally, we will continue to be a reliable provider of energy.

Woodside share price snapshot

The Woodside share price has soared 80% in the past year, while it has gained 60% year to date.

For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) has risen nearly 50% in the past year.

Woodside has a market capitalisation of about $66.6 billion based on the current share price.

The post What happened to Woodside shares on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• ‘We would like to see faster progress’: ASX 200 energy shares on notice
• The Woodside share price has gained under 5% in 10 years. Does the latest monster dividend make up for this?
• How are ASX 200 energy stocks performing on Tuesday?
• Here are the top 10 ASX 200 shares today
• Why is the Woodside share price surging ahead on Monday?

Motley Fool contributor Monica O’Shea 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.

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ASX uranium shares enjoyed another strong run higher on Tuesday.

Meanwhile, by close of trade, the All Ordinaries Index (ASX: XAO) had given up its earlier gains and finished the session down by 0.26%. Despite it being widely expected, the dip came following confirmation from the RBA that it has raised interest rates by 0.5%

But this didn’t seem to faze these leading ASX uranium shares which concluded Tuesday’s session as follows:

• Boss Energy Ltd (ASX: BOE) shares up 7.31% to $2.79
• Paladin Energy Ltd (ASX: PDN) shares up 7.78% to 90 cents
• Bannerman Energy Ltd (ASX: BMN) shares up 8.29% to $2.35
• Deep Yellow Ltd (ASX: DYL) shares up 6.8% to $1.10
• Alligator Energy Ltd (ASX: AGE) shares up 6.25% to 6.8 cents

That’s some impressive performance today. But what’s the outlook for ASX uranium shares moving forward?

What’s the outlook for ASX uranium shares in September?

All the companies named above are also well up since this time last month.

While there are no guarantees as to how share prices will move over the rest of September, arguably the foundations are being laid to support strong and rising global demand for uranium. This should, in theory, support the miners longer term.

Just two weeks ago, Japan’s government announced it will investigate the development of next-generation nuclear power plants and reopen seven currently shuttered plants.

As you might expect, ASX uranium shares rocketed higher following the announcement.

And Japan is far from the only nation looking to ramp up its nuclear power generation.

Global energy crisis spurs nuclear power ambitions

With the world facing a global energy crisis, exacerbated by Russia’s invasion of Ukraine, countries around the world are extending the lives of existing reactors or rolling out plans to build new ones.

Those nations include India, Germany, Belgium, and France.

As reported by the Financial Times, France’s state-controlled energy company, EDF, is moving to restart 32 of the nation’s reactors that have been taken offline for maintenance. That represents more than half of France’s 56 nuclear plants.

French energy minister Agnès Pannier-Runacher said, “EDF has committed to restarting all its reactors for this winter.”

Reactors, of course, require uranium.

Today, Kazakhstan produces more than 40% of the global uranium. Australia lags far behind in production, though Australia has at least 25% of the world’s proven uranium resources.

As more nations turn to nuclear power for their baseload generation, investors will be hoping this creates some long-term tailwinds for ASX uranium shares.

The post What’s the outlook for ASX uranium shares in September? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• 2 ASX uranium shares added to the ASX 300 today
• Why did ASX uranium shares get hammered on Thursday?
• Why BHP, Deep Yellow, Nickel Industries, and PointsBet shares are dropping

Motley Fool contributor Bernd Struben 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.

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