What’s going on with the Deep Yellow (ASX:DYL) share price today?

The uranium explorer is in focus as the resource continues its recent fall in value…
The post What’s going on with the Deep Yellow (ASX:DYL) share price today? appeared first on The Motley Fool Australia. –

It is a volatile day on the market for the Deep Yellow Limited (ASX: DYL) share price on Thursday.

At the time of writing, shares in the uranium exploration company are down 2.19% to 90 cents. However, the company’s shares touched 86.5 cents earlier in the session, representing a fall of 5.5%.

While the share price is moving lower, traded volume is above average. Heading into lunchtime, more than 2 million Deep Yellow shares have exchanged hands. For comparison, over the past 4 weeks, an average day saw a trading volume of around 3.7 million shares.

A closer look at the Deep Yellow share price

Deep Yellow investors are applying selling pressure today, as the Namibian-focused uranium explorer continues a 20-day long rout. Over this timeframe, the Deep Yellow share price has retreated 35%. This is in tandem with a deepening fallout in the price per pound of the alternative energy resource.

Impacting the perceived value in uranium miners, the energy-dense resource has tumbled around 18% to US$40.45. Although, it is important to give this context. While the recent trend has been downward, the price per pound of uranium is still up 36% from a year ago.

Meanwhile, Deep Yellow is not alone in its poor performance today. Other uranium explorers/miners that are also struggling include Peninsula Energy Ltd (ASX: PEN), 92 Energy Ltd (ASX: 92E), and Bannerman Energy Ltd (ASX: BMN).

Likewise, the Deep Yellow share price remains in the figurative stratosphere compared to this time last year. Over this duration, shareholders have seen the value of their holdings increase nearly threefold.

Recent activity

Interestingly, investor sentiment was not improved following Tuesday’s update revealing a major ore reserve milestone. According to the release, the company completed its resource drilling across the Tumas Project.

From this data, Deep Yellow discerned its ore reserve estimates should be increased by 121%. As a result, the company now believes its project contains 68.4 million pounds of probable ore reserves.

However, the Deep Yellow share price has been unsuccessful in regaining traction since the announcement.

The post What’s going on with the Deep Yellow (ASX:DYL) share price today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Deep Yellow right now?

Before you consider Deep Yellow, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Deep Yellow wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Deep Yellow (ASX:DYL) share price slides 4% despite major ore reserve milestone
How did ASX uranium shares perform in September?

A sea of red for ASX uranium shares. Is the run over?

Are ASX uranium shares fully valued?

Why the Deep Yellow (ASX:DYL) share price is tanking 18% today

Motley Fool contributor Mitchell Lawler 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!