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Yellow Cake plc ( (GB:YCA) ) has provided an update.
Yellow Cake plc announced a non-pre-emptive placing of new ordinary shares to raise approximately $125 million, which will be used to purchase 1.33 million pounds of uranium from Kazatomprom at a discounted price. This move aligns with Yellow Cake’s strategy to bolster its uranium holdings amid a tightening market, driven by supply-demand imbalances and increasing global nuclear energy demand. The company believes this presents a compelling investment opportunity, as evidenced by recent long-term power deals in the USA and the strategic importance of secure uranium supply.
The most recent analyst rating on (GB:YCA) stock is a Buy with a £620.00 price target. To see the full list of analyst forecasts on Yellow Cake plc stock, see the GB:YCA Stock Forecast page.
More about Yellow Cake plc
Yellow Cake plc is a specialist company in the uranium sector, focusing on holding physical uranium for the long term and engaging in uranium-related commercial activities. Founded by Bacchus Capital Advisers, Yellow Cake operates under a framework agreement with Kazatomprom, the world’s largest uranium producer, allowing it to purchase uranium at a fixed price annually. The company aims to capitalize on the structural mispricing of uranium, driven by increasing demand for nuclear power as a low-carbon energy source and a potential supply gap.
Average Trading Volume: 1,021,039
Technical Sentiment Signal: Strong Buy
Current Market Cap: £1.22B
For an in-depth examination of YCA stock, go to TipRanks’ Overview page.