Berenberg Keeps Yellow Cake at Buy Amid Higher Uranium Price Expectations

03:02 AM EST, 01/06/2026 (MT Newswires) -- Yellow Cake's (YCA.L) buy rating and price target were reiterated, as Berenberg anticipates uranium prices to maintain upward momentum amid tight supply and increasing demand. "Our GBp704 price target is driven by our expectation that the uranium price will remain high, at USD85/lb, in the long term, and has the potential to squeeze higher in the short term, beyond the current cUSD82/lb level," the research firm said Monday. "This should be supported by both growing demand from investors and growing global nuclear power capacity, with North American and then European generators seeking to cover their needs with new contracts as old contracts roll off and supply becomes constrained." Berenberg analysts noted that the London-listed uranium company's $100 million purchase option with uranium miner Kazatomprom (KAP.L), along with its pro forma cash of $79 million, provides "plenty of firepower" to purchase physical uranium and join the expected 2026 price surge.