Yellow Corp. (YELLQ)
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Yellow Cake: One Of The Better Risk Rewards Among Uranium Equities
Yellow Cake offers efficient, low-cost exposure to uranium, trading at a 6-11% discount to NAV versus spot and long-term uranium prices. The company's purchase agreement with Kazatomprom and disciplined cost structure have driven significant asset growth. Despite recent underperformance versus uranium miners, I see attractive risk-reward at current levels and have been adding to my position.
Big Yellow secures consent for new Leamington Spa store
Big Yellow Group PLC (LSE:BYG) has received planning consent for a new 55,000 square foot storage centre in Leamington Spa. The company expects the facility to generate an 8.5% net operating income return at stabilisation on capital deployed of £13.3 million.
Penske Automotive Group: The Yellow Flag Is Out On Tariffs
Penske delivered resilient Q2 results, growing EPS 5% despite flat revenue, thanks to higher margin used car sales and strong service & parts performance. Tariff risks impacted Penske's new car sales in Q2 due to its heavy exposure to European and Japanese brands. Early indications for July suggest sales are picking back up given higher certainty around tariffs, but more time is needed to establish a trend.
Yellow Pages Limited: Still A 'Yield Trap,' But Catalysts Could Emerge
Despite similar histories, Yellow Pages Limited (YLWDF) is not Canada's answer to Thryv Holdings (THRY). Unlike is U.S.-based counterpart, Yellow Pages' digital business is still advertising-focused, and like its legacy phonebook business is in long-term decline. While the company continues to implement a turnaround plan that has merely reducing the pace of revenue/earnings declines, several catalysts remain within the realm of possibility.
Yellow Cake: Still Trades At A Substantial Discount To The Long-Term Uranium Price
Yellow Cake offers direct uranium exposure, trading at a 6.2% discount to the uranium spot price and a 17% discount to long-term uranium contract prices. Recent global policy shifts and tech sector demand are strengthening the long-term outlook for nuclear energy and uranium markets. Despite recent volatility, uranium equities—including Yellow Cake—remain attractively valued after substantial corrections and partial rebounds.
Deep Yellow Has Vastly Outperformed The Market, But Remains Attractive
Deep Yellow's stock has outperformed the S&P 500 by a wide margin, driven by its strategic positioning to benefit from the expected boom in nuclear energy. The global energy crisis and increasing popularity of nuclear power as a clean energy source provide long-term growth potential for uranium producers like Deep Yellow. Despite market volatility and sensitivity to economic conditions, Deep Yellow's strong balance sheet and promising projects in Namibia and Australia make it an attractive long-term investment.
Big Yellow: UK's Self-Storage Leader Is On Sale
Big Yellow Group, the UK's leading self-storage operator, shows resilience with steady revenue growth and strong cash generation despite macro pressures on occupancy due to rising interest rates. The company trades at a 20% discount to NAV, with a P/NAV of 0.80x, suggesting potential long-term upside once market sentiment improves. Expansion into underserved markets, particularly Greater London, and a robust pipeline of development projects highlight Big Yellow's growth potential.
AT&T: Good Q1 Earnings, But Watch These Yellow Flags
AT&T's Q1 results were positive, with EPS meeting expectations and revenue showing growth, driven by strong KPIs in the Mobility and Consumer Wireline segments. Mobility segment saw over 300,000 net adds, low churn, and increasing ARPU, while Consumer Wireline revenue rose 5% due to 19% fiber growth. Despite FX impacts and legacy service pressures, AT&T achieved a 2% YoY top-line growth, indicating potential for sustainable, albeit slow, future growth.
Blue Bird Corporation: Driving A Solid Yellow Business
Currently, the company reports that more than 47% of all school buses in circulation in the Americas are more than ten years old. This represents a total of approximately 270,000. As for the revenue generated, the net result was $313.9 million, which represents a slight decrease compared to the $317.7 million from the previous year. Looking at EBITDA generated in the quarter, we see 1Q2024 closed at $47.6 million, the amount generated in 1Q2025 was $45.8.
Yellow Cake: A Large Discount To The Long-Term Uranium Contract Price
Yellow Cake Plc's stock has underperformed, down 33% over the past year, reflecting broader weakness in uranium equities and the uranium spot price. Yellow Cake trades at a 13% discount to NAV, with an implied uranium price of $55.1/lb, suggesting a limited downside and strong upside potential. I rate Yellow Cake a strong buy, expecting it to double in 2-3 years due to favorable market conditions and attractive valuation.
Yellow Cake: Re-Evaluating The Uranium Trade After The Sell-Off
Uranium spot prices have fallen 40%, creating a compelling entry point. Spot market volatility is driven by speculative activity and short-term factors, but long-term prices are still rising across all nuclear fuel market segments. Demand for uranium is projected to increase by over a third in the next decade, while supply struggles to keep pace, necessitating higher prices.
Big Yellow Group: U.K. Self-Storage REIT At 0.75x Net Tangible Assets
British REITs have had a soft six months or so, and self-storage player Big Yellow Group is off around 20% in that time. The U.K. self-storage market is relatively immature compared to the United States, and this has driven good growth over the years. Higher interest rates and cost inflation have weighed here, but a return to growth could drive double-digit annualized returns from these levels.
