The Commonwealth Bank of Australia (ASX: CBA) share price is slipping on Monday. This follows Australia’s largest bank being accused of defamation by a Colombian-Australian remittance service that utilises cryptocurrencies.

At the time of writing, the CBA share price is 0.25% lower to $100.84 apiece. The downward movement means shares in CBA have now fallen 4.5% in the past month.

Banks and crypto continue to lock horns

In the latest jousting contest between traditional banks and pro-crypto fintechs, CBA has landed itself in hot water. According to reports, remittance company Colcambios Australia has accused the Aussie bank of defamation.

Colcambios provides low-cost money transfers between Colombia and Australia. To do this, the company exchanges and transfers pesos and Australian dollars using cryptocurrencies.

Allegedly, CBA wrote letters to customers of Colcambios, suggesting that the money in their accounts was from fraudulent activities. This was in addition to the remittance company being framed as scammers, with the letters warning its customer’s safety was at risk.

An example of one such letter, accompanied by the claim filed with the District Court of NSW, reads:

After a thorough review of your concerns raised, we have good reason to believe you have fallen victim to a scam. Scammers often use messaging apps such as WhatsApp to lure students in with the rewards of quick/easy money. Students are asked to receive funds, then on-forward most of the funds to the scammers/another party, the students will keep a commission.

As a result, Colcambios’ director alleges that the claims have impacted its customer’s perception of the company. However, there are always two sides to every story, and CBA has shared its own version. The ensuing legal matter appears to be weighing on the CBA share price today.

According to CBA, it was imparting information that it believed it had a legal duty to share. This is unsurprising, given the mounting pressures for appropriate actions in accordance with anti-money laundering and counter-terrorism legislation.

Additionally, the bank mentioned it had not mentioned Colcambios Australia by name in any of its letters.

CBA share price in perspective

While the CBA share price struggles at its start to the week, the Aussie benchmark index is powering higher.

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is up 0.28% to 7,427.1 points. Leading the charge upwards are mining and energy shares.

Finally, CBA shareholders might find solace in the share price holding above $100 per share.

The post CBA (ASX:CBA) share price lower amid crypto defamation lawsuit appeared first on The Motley Fool Australia.

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• These ASX 200 dividend shares are about to dish out $40bn to shareholders
• What’s moving the CBA (ASX:CBA) share price this week
• Why Afterpay, CBA, Omni Bridgeway, & South32 shares tumbled lower today
• ASX 200 sinks, BHP and CBA fall

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. 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 Bruce Jackson.

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The S&P/ASX 300 Index (ASX: XKO) is edging higher on Monday, regaining lost ground from last week’s fall.

During early-afternoon trade, the ASX 300 is up 0.17% to 7,422 points. This means that the index is around 2.6% off its record high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the strong performers today.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is on fire again today, adding another 19.47% to $1.35. This means over the past week, the emerging lithium producer’s shares are up almost 32% and, year-to-date, up 289%.

Despite no new news coming out of the company, investors are excited about the battery material sector.

Liontown Resources is focusing on developing its wholly-owned world-class Kathleen Valley Lithium Project. The asset is considered a tier-1 battery metals site with excellent grade and scale in one of Western Australia’s best mining districts.

Paladin Energy Ltd (ASX: PDN)

Another strong mover for the start of the week is the Paladin share price, up 15.44% to 98.7 cents apiece.

The uranium producer hasn’t released any news since its full-year results late last month.

However, in its annual report, Paladin advised that the Langer Heinrich Mine is progressing towards restarting production. In addition, management is engaging with global nuclear energy utilities to secure long-term contracts for the future.

Paladin shares too have risen close to 35% since this time last week. Over the course of the past month, its shares have almost doubled in value.

Sydney Airport (ASX: SYD)

The Sydney Airport share price is pushing higher on Monday, with a 4.69% gain to $8.37.

The airport operator updated the ASX today with a revised conditional and non-binding proposal from the Sydney Aviation Alliance. An offer to acquire 100% of Sydney Airport shares of $8.75 per share has been put forward.

The company intends to grant the consortium due diligence on a non-exclusive basis which is expected to take 4 weeks.

Now, let’s take a look at which ASX 300 companies are heading the other way.

Australian Strategic Materials Ltd (ASX: ASM)

Falling today is the Australian Strategic Minerals share price, down 10.99% to $10.69, with no new market announcements from the company.

Investors have sold off the rare earth elements miner’s shares after they reached an all-time high of $14.00 last month. Since January 2021, its shares have accelerated by more than 69% and 442% in the last year.

Chalice Mining Ltd (ASX: CHN)

Also being weighed down by investors today is the Chalice share price, down 8.15% to $6.59.

The gold explorer saw demand for the yellow metal wane overnight with prices dropping to as low as US$1,785 per ounce. This affected the company’s shares, although the spot price has surged higher in the hours following.

The post Which ASX shares are the top movers in the ASX 300 today? appeared first on The Motley Fool Australia.

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• Two exciting ASX uranium shares get big price upgrade by broker
• Sydney Airport (ASX:SYD) share price on watch after new takeover approach
• Which ASX 300 shares are leading the way as the top movers on Friday?
• ASX uranium shares are booming: What’s all the hype about?

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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The PointsBet Holdings Ltd (ASX: PBH) share price is under pressure on Monday.

At the time of writing, the sports betting company’s shares are down over 1% to $9.75.

This means the PointsBet share price is now down 14% in the space of a month.

Is the weakness in the PointsBet share price a buying opportunity?

While the pullback in the PointsBet share price over the last few weeks is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

That’s the view of the team at Bell Potter, who earlier this month put a buy rating and $13.75 price target on the company’s shares.

Based on the current PointsBet share price, this implies potential upside of 41% over the next 12 months.

What did the broker say?

According to the note, the broker has changed the analyst covering the company. While this has led to a change in its investment thesis, forecasts, and valuation, it remains very positive.

It commented: “We have transferred analyst coverage of PointsBet Holdings so there is a change in our investment thesis, forecasts and valuation of the company. Overall, however, we remain positive on the company and its outlook. In particular we are attracted by the large opportunity in the sports wagering market in both the US and Canada which combined is estimated to equate to a total addressable market (TAM) of around US$10bn in 2025.”

“We also believe PointsBet has a key point of differentiation in owning its own IT platform which gives it control over its product roadmap and also allows the company to scale quickly. We also see numerous potential catalysts for the share price including securing entry into further states and provinces (e.g. New York) as well as continued M&A activity in the sector,” it added.

Overall, in light of the above, Bell Potter sees a lot of value in the PointsBet share price at the current level.

The post The PointsBet (ASX:PBH) share price is down 14% in a month. Is it a buy? appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Anson Resources Ltd (ASX: ASN) share price was paused before market open on Friday.

Shares closed on Thursday at 11 cents per share.

The pause came at the request of the ASX resource and battery metals explorer. It remains in effect until the company releases a price sensitive announcement or the commencement of trading tomorrow — whichever comes first.

Why the trading halt?

The Anson Resources share price remains frozen at time of writing awaiting the company’s announcement regarding a capital raising.

Specific details of the raising have yet to be released.

However, on the last day of trading before the pause (Thursday 9 September), shares closed up 10.1%, having been up more than 19% in intraday trading.

That came after Anson released promising results from its latest battery test work.

As my Foolish colleague, Brooke Cooper, wrote on the day, “The test work, completed by Novonix Ltd (ASX: NVX), found lithium products from Anson’s Paradox Brine Project performed well in lithium-ion battery test cells.”

The results from the testing indicated Anson’s products suffered less capacity losses during ultra-high precision chargers testing. That could lead to longer life batteries, a critical goal to combat range anxiety as electric vehicle (EV) production ramps up across the globe.

Anson’s CEO Bruce Richardson commented on the test results, saying:

The purity of the Anson product provides it with a performance advantage over existing commercial products which is expected to attract lithium-ion producers that are aiming to provide a high-performance product.

While we’ll need to await Anson’s official announcement, it appears the company may be raising capital to position itself for potential growth in the booming lithium-ion market.

Anson Resources share price snapshot

The Anson Resources share price has been as stand-out performer in 2021, up 279%. By comparison the All Ordinaries Index (ASX: XAO) is up 11% year-to-date.

Over the past month, Anson’s shares are down 11%.

The post Why is the Anson Resources (ASX:ASN) share price halted? appeared first on The Motley Fool Australia.

More reading

• Anson (ASX:ASN) share price leaps 19% on Novonix test results

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 Bruce Jackson.

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a tough start and is pushing higher. The benchmark index is currently up 0.3% to 7,430.5 points.

Here’s what is happening on the ASX 200 today:

Sydney Airport takeover

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is storming higher today. This is after it received a revised indicative, conditional and non-binding proposal from the Sydney Aviation Alliance. According to the release, the Sydney Aviation Alliance has proposed to acquire the airport operator at an indicative price of $8.75 cash per stapled security. This represents a 9.4% premium to its last close price. It is also an improvement on previous offers of $8.25 and $8.45 cash per share. Due diligence has been granted on this occasion.

Qantas share price lower on ACCC blow

The Qantas Airways Limited (ASX: QAN) share price is dropping on Monday. This follows news that the Australian Competition and Consumer Commission (ACCC) has denied permission for the airline to collaborate with Japan Airlines. The two parties planned to work together on routes to and from Japan. “The ACCC can only authorise an agreement between competitors if it is satisfied the public benefits would outweigh the harm to competition,” said ACCC chair Rod Sims. “The alliance did not pass this test,” he added.

Incitec Pivot shares higher on Waggaman update

The Incitec Pivot Ltd (ASX: IPL) share price is rising today following a positive update. According to the release, the specialist chemicals company’s Waggaman ammonia plant in Louisiana was not materially damaged by Hurricane Ida. And while it will be down for four weeks as power is restored to the area, this was a better-than-expected outcome. A US$28 million EBIT loss is expected from the disruption.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Sydney Airport share price with a 5% gain. This follows news of its latest takeover approach. The worst performer on the ASX 200 has been the Chalice Mining Ltd (ASX: CHN) share price with a 7% decline. This is despite there being no news out of the gold explorer.

The post ASX 200 (ASX:XJO) midday update: Sydney Airport jumps, Qantas falls appeared first on The Motley Fool Australia.

More reading

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• These were the worst performing ASX 200 (ASX:XJO) shares last week

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 Bruce Jackson.

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The Magellan Financial Group Ltd (ASX: MFG) share price has slipped into the red from the opening of trade on Monday.

It adds to Magellan shares’ struggles over the last few weeks.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped around 2% in the red, Magellan shares are down 21% over this time.

Let’s investigate a little further to find out why.

What headwinds have been in front of the Magellan share price?

The Magellan share price has faced several headwinds over the last month that are worth noting.

Magellan shares have been on the move since the company reported its FY21 earnings back in August.

In its report, the company recognised a 33% net profit after tax (NPAT) to $265 million and an adjusted net profit after tax of $412 million, down 6% year on year.

As a result, the company rewarded shareholders with a $2.11 per share dividend, down 2% year on year.

Investors weren’t pleased with the company’s results at all. As such, the Magellan share price took a 10% nosedive in the short time following its FY21 earnings release.

News that a major competitor may be listing on the ASX hasn’t helped Magellan’s share price woes either.

Active investment management outfit GQG Partners purportedly intends to list on the ASX, with a planned initial public offering (IPO) valued north of $5 billion.

The firm has over $83 billion in assets under management (AUM) and is reportedly seeking to list in order to increase exposure and boost its brand recognition.

For comparison, Magellan recently advised its total funds under management (FUM) stood at $117.95 billion which is a paltry 0.8% year on year increase from FY20.

It appears that investors were banking on Magellan delivering more in its FUM update and have sold on the news. The Magellan share price has slipped around 9% since releasing this news.

Adding salt to the wounds is that investment bank UBS recently cut its price target to $35 on Magellan shares and downgraded its recommendation from neutral to sell. That price target implies an 11.6% downside potential from Magellan’s current share price.

Magellan share price snapshot

The Magellan share price has been a major underperformer on the Australian indices this year, having posted a loss of 26% since January 1.

This extends the loss over the last 12 months to 30%. In the past month alone, Magellan shares have slipped a further 21% into the red.

These results have lagged the broad index’s return of around 25% over the past year.

The post Why the Magellan Financial (ASX:MFG) share price is down 21% in a month appeared first on The Motley Fool Australia.

More reading

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• 2 quality ASX shares to look at this weekend
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The author Zach Bristow has no positions 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 Bruce Jackson.

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The Zip Co Ltd (ASX: Z1P) share price has dropped by 13% over the last month. What is happening to the buy now, pay later company?

The buy now, pay later industry is in focus after Afterpay Ltd (ASX: APT) was pounced on by Square Inc (NYSE: SQ) in a takeover.

In that time, Zip has reported its FY21 result. Investors often like to base the share price on the performance of the business.

How good was Zip’s FY21 report?

Zip reported triple digit growth in the last financial year.

It said that it achieved $403.2 million of revenue, an increase of 150% year on year.

Transaction volumes for FY21 were $5.8 billion, up 176% year on year. Transaction numbers were 41.3 million, an increase of 293%. Customer numbers rose 248% to 7.3 million. Merchants on Zip’s networked increased to 51,300 – an increase of 109%.

The buy now, pay later business said that its revenue as a percentage of transaction volumes was 7%. Zip said that it maintained strong unit economics while investing for, and delivering, strong growth – the cash transaction margin for FY21 was 3.5%.

It also said that it delivered a strong credit performance in light of COVID-19, driven by repeat customer usage and investments in its decisioning capabilities. Net bad debts as a percentage of transaction volume was 1.28%.

Zip disclosed that it was the US that delivered a large amount of the growth. The Zip US business saw revenue of $176 million, which was pro forma growth of 269%. US transaction volume in dollar terms was $2.45 billion – pro forma growth of 225%. In terms of the number of transactions, the US saw 14.3 million transactions – a pro forma increase of 244%.

The company said that it made a cash earnings before tax, depreciation and amortisation (EBTDA) loss of $22.9 million in FY21.

It is also focused on growing its international buy now, pay later operations. 

The Zip share price has fallen by 7.5% since the release of this result.

What did analysts make of the result?

Opinions were somewhat different about the result.

The broker Ord Minnett noted that Zip’s earnings before interest, tax, depreciation and amortisation (EBITDA) wasn’t as good as the broker had forecast because of an increased level of expenditure.

However, both Ord Minnett and another broker, UBS, believe that the Zip US business (Quadpay) will play an even bigger part in Zip’s future.

Whilst UBS expects that Zip’s revenue will continue to grow strongly, its expenses are likely to grow at a fast pace too. That’s one of the main reasons why UBS has a sell rating on Zip, with a price target for the Zip share price of $5.40. That suggests that UBS believes that the buy now, pay later business will fall by approximately 20% over the next 12 months.

Ord Minnett has a very different outlook. It has a buy rating on Zip shares with a price target of $9.50. That means the broker reckons Zip shares could rise by around 40% over the next 12 months, if the broker is right.

How has FY22 started for Zip?

Zip revealed with its FY21 result that transaction growth continued in FY22. Between 1 July 2021 and 22 August 2021, Australian transaction volumes were up 58% year on year and US transaction volumes were up 240%.

The post Zip (ASX:Z1P) share price continues slide, down 13% in a month. What’s happening? appeared first on The Motley Fool Australia.

More reading

• Zip (ASX:Z1P) share price bounces as US rebrand puts a dent in traffic
• Here’s why the Zip (ASX:Z1P) share price is underperforming the tech sector over the past year
• 3 excellent ASX 200 (ASX:XJO) shares that could be buys
• Zip (ASX:Z1P) share price struggles as BNPL competition heats up
• How have ASX BNPL shares performed during the August 2021 earnings season?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The A2 Milk Company Ltd (ASX: A2M) share price is pushing higher on Monday morning.

In late morning trade, the embattled infant formula company’s shares are up almost 1% to $5.56.

Despite this rise, A2 Milk’s shares are still down a disappointing 52% since the start of the year.

Can the A2 Milk share price keep rebounding?

Unfortunately for shareholders, one leading broker isn’t confident the A2 Milk share price will continue to rebound.

According to a note out of Credit Suisse from last week, its analysts have reaffirmed their underperform rating and $5.50 price target on the company’s shares.

This is broadly in line with where its shares are trading today.

Why is the broker bearish on the company?

Credit Suisse notes that infant formula pricing was stable in August and that channel inventory appears to be heading in the right direction again.

However, this isn’t enough for the broker to become more positive on the A2 Milk share price.

This is because Credit Suisse continues to be concerned by the impact that China’s slowing birth rate could have on its sales.

Furthermore, it notes that management has acknowledged that it is losing market share in Stage 1 English Label infant formula. It fears that as these children age, the company’s Stage 2 and Stage 3 product sales could suffer.

Is anyone else more positive?

The good news for its long-suffering shareholders is that another broker disagrees and sees value in the A2 Milk share price.

A note out of Citi from late last month saw the broker upgrade the company’s shares to a buy rating with a $7.20 price target.

It has been pleased with its inventory management and believes the A2 Milk brand in China is stronger and more resilient than previously thought.

Which broker has made the right call, time will tell.

The post A2 Milk (ASX:A2M) share price rises despite bearish broker note appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
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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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Santos Ltd (ASX: STO) share price is in the green today, as are global oil prices.

The West Texas Intermediate oil price has climbed to more than US$70 per barrel, having gained 0.79% today. Additionally, the price of Brent Crude oil is now sitting at US$73.46 per barrel.

The Santos share price is also taking advantage of a good day’s trade. At the time of writing, Santos shares are swapping hands for $6.195, 2.23% more than they were at Friday’s close.

Let’s take a closer look at what’s driving the price of oil and the oil and gas producer’s share price today.

What’s driving the Santos share price higher?

The Santos share price is having a good day, likely spurred by increasing oil prices.

According to reporting by Bloomberg, the price of oil is gaining as the destruction caused by Hurricane Ida reaches the global oil market.

The storm hit the Gulf of Mexico more than a fortnight ago and practically halted oil production in the region. The Gulf of Mexico normally sends around 1.1 million barrels of oil to the global market each day.

As a result of the disaster, the United States’ crude oil stockpile is at its lowest point in 2 years.

While Hurricane Ida has positively impacted oil prices, it brought mass devastation to the Gulf of Mexico.

The Guardian reported the storm was responsible for a massive oil spill while the US Coast Guard responded to up to 350 reports of oil leaking into the ocean.

In other news, the Santos share price’s boost might also be a lingering effect of last week’s news. On Friday, Santos and Oil Search Ltd (ASX: OSH) confirmed the two companies are planning to merge to create a $21 billion oil and gas company.  

The merger is waiting for approval from shareholders, regulators, and Papua New Guinea authorities. The two entities hope to become one in December.

The post Santos (ASX:STO) share price jumps amid rising oil prices appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• How have ASX energy shares performed during the August 2021 earnings season?
• ASX 200 rises, Santos and Oil Search merge
• Why the Oil Search (ASX:OSH) share price is leaping out of the trading pause
• Santos (ASX:STO) share price climbs as Oil Search merger confirmed

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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ASX uranium shares are in the spotlight as uranium prices reach 7-year highs.

Uranium traded as low as US$20 (AU$27) per pound in the aftermath of the tsunami-driven meltdown at Japan’s Fukushima nuclear power plant on 11 March 2011. Today the spot price has more than doubled, to just over US$40 per pound.

This has clearly offered a welcome tailwind to leading ASX uranium shares, like Paladin Energy Ltd (ASX: PDN) and Boss Energy Ltd (ASX: BOE).

The Paladin share price is up 571% over the past 12 months. And this for a company with a market cap of $2.3 billion.

Mid-cap competitor Boss Energy’s shares have soared 250% higher over that same time.

Why are uranium prices rising?

Analysts broadly point to 2 forces working to push uranium prices higher.

First, uranium fuelled nuclear power emits a tiny amount of carbon compared to fossil fuel fired power plants. And they deliver reliable, round the clock electricity supplies. This has seen a number of global powers – led by China – roll out plans to drastically increase nuclear power generation over the mid-term.

The second factor pushing uranium higher, as the Australian Financial Review highlights, is the recent launch of the Sprott Physical Uranium Trust (SPUT).  “SPUT has purchased 6 million pounds of uranium in the spot market and deployed more than $US200 million of its at-the-market (ATM) offering in the past month.”

Ben Cleary, the portfolio manager of Tribeca’s global natural resources fund said, “There’s been so much fuel on the floor of the uranium market given it’s been such an undersupplied commodity. The match to set this on fire has been Sprott buying spot [uranium].”

In potentially more good news for ASX uranium shares, Cleary forecasts that uranium prices will run hot over the next 12 months, predicting a spot price of US$100 per pound. His forecast lies partly in the fact that even at today’s 7-year highs, producers are still spending more than they’re receiving.

According to Cleary:

The marginal cost of uranium production is still well above current spot prices. So while this rally may be driven by a financial player in Sprot, fundamentally, the price can sustain this rally and much higher prices because there’s not a mine on the planet that makes money with uranium at $US40 a pound, or even $US50.

Two ASX uranium shares upgraded

Tribeca aren’t the only analysts bullish about the mid-term outlook for uranium prices.

As the AFR reports, this week broker Shaw & Partners upgraded its long-term price forecast for uranium from US$52 to US$60 a pound. “It assumes a multi-year price spike at $US85 a pound.”

Large-cap ASX uranium share Paladin Energy is the “broker’s preferred exposure” to the sector. It upgraded its price target to $1 from the previous 56 cents.

Boss Energy also received a hefty price target upgrade from Shaw & Partners, from 17 cents up to 30 cents.

How have these ASX uranium shares been performing recently?

The Paladin share price is up 260% year-to-date, while the Boss Energy share price is up 185%. That compares to a gain of 11% posted by the All Ordinaries Index (ASX: XAO).

As for today, the 2 ASX uranium shares are powering ahead.

In morning trade, Paladin shares are up 10% to 94 cents per share, whilst Boss Energy is up 8% to 28 cents per share.

The post Two exciting ASX uranium shares get big price upgrade by broker appeared first on The Motley Fool Australia.

More reading

• ASX uranium shares are booming: What’s all the hype about?
• Up 70% in September, why the Paladin Energy (ASX:PDN) share price keeps going up
• What’s happening with the Boss Energy (ASX:BOE) share price today?
• Why the Paladin Energy (ASX:PDN) share price is up 5% on Monday
• Guess which sector last week’s top performing ASX shares come from

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 Bruce Jackson.

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