Yellow Cake plc (GB:YCA) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Yellow Cake plc’s financial year ending on March 31, 2024, saw a remarkable 72% increase in the spot price of uranium, boosting the company’s asset value to USD 1.88 billion and securing a post-tax profit of USD 727 million. Capitalizing on the market, the company raised USD 125 million to expand its uranium holdings to 21.68 million lbs, approximately 15% of global production in 2023. CEO Andre Liebenberg attributes this success to strategic purchases and a bullish uranium market driven by supply-demand dynamics and growth in the nuclear reactor fleet.
For further insights into GB:YCA stock, check out TipRanks’ Stock Analysis page.
