Highlights

  • Consensus rating of Buy from 10 analysts: 6 Buy or equivalent, 4 Hold, 0 Sell or equivalent.
  • Mean price target of A$2.01 against a share price of A$1.05 on 8 October 2026, an implied upside of 90.8%.
  • Analyst targets range from A$1.45 to A$2.90.
  • Its Wholly Owned Subsidiary Reptile Uranium Namibia (Proprietary) Limited executed a long-term Water Supply Agreement with NamWater, which the company said secures water for construction, commissioning and future operations.

Deep Yellow (ASX:DYL) carries a consensus analyst rating of Buy. Of the 10 analyst recommendations recorded, 6 are Buy or equivalent, 4 are Hold and 0 are Sell or equivalent. The mean price target is A$2.01, with targets ranging from A$1.45 to A$2.90, against a current share price of A$1.05 (8 October 2026). Deep Yellow Limited is a uranium developer whose flagship asset is the Tumas Project in Namibia.

Company name

Deep Yellow

Ticker

(ASX:DYL)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$1.05

Price date

8 October 2026

Number of analysts

10

Rating consensus

Buy

Consensus price target (mean)

A$2.01

Highest target

A$2.90

Lowest target

A$1.45

Implied upside/downside to mean target

Implied upside of 90.8%

Latest developments

Deep Yellow (ASX:DYL) announced on 26 August 2026 the completion of two Tumas Project milestones. Its wholly owned subsidiary Reptile Uranium Namibia (Proprietary) Limited executed a long-term Water Supply Agreement with NamWater, which the company said secures water for construction, commissioning and future operations. It also finalised local ownership arrangements with Namibian partner Oponona Investments (Proprietary) Limited through the execution of Subscription and Shareholders Agreements, formalising the arrangements under the binding Heads of Agreement previously disclosed.

Oponona's share of historical and future Tumas expenditure is to be loan-carried and repayable from Oponona's future dividends. The milestones follow the completion of bulk earthworks and the start of major civil and concrete construction works, with continued progress on engineering, procurement, optimisation and financing.

Deep Yellow said it continues to progress towards an anticipated Final Investment Decision for Tumas in the fourth quarter of 2026, subject to market conditions.

Risks and what to watch

The Final Investment Decision has not yet been taken, and the company says the anticipated fourth quarter 2026 timing is subject to market conditions. Financing is still being progressed. Oponona's share of expenditure is loan-carried and repayable from future dividends, which affects the Economics available to Deep Yellow. Uranium development depends on prices, construction delivery and approvals.

Next milestones

Items to watch include the Final Investment Decision on Tumas in the fourth quarter of 2026, completion of project financing, construction progress including civil and concrete works, and uranium market conditions.