NATKY Stock: Kazatomprom JSC (LSE: KAP) Price & Analysis

Kazatomprom JSC (NATKY) last close $60.00 on Nov 4, 2026 (−$1.00, −1.64% on the day) · EODHD end-of-day
Kazatomprom is the world's largest uranium producer, mining about a fifth of global primary supply from in-situ recovery operations across Kazakhstan through its own mines and joint ventures with international partners.

Kazatomprom JSC · LSE: KAP · producer · Informational only, not investment advice.

Last close: $60.00; EODHD, Nov 4, 2026
Day change: −1.64%; −$1.00 vs Nov 3, 2026 close
52-week range: $48.60 – $87.60; EODHD closes, Nov 5, 2025 to Nov 4, 2026
Market cap: $7.6B; EODHD KAP.LSE (reported)
Total U₃O₈ resources: 1233.3 Mlbs; Kazatomprom 2025 Integrated Annual Report (English); 'Reserves and geological surveys' section, SRK Mineral Resource and Ore Reserve Statements dated 2026-01-17
Cost per lb (AISC): US$38.45/lb; Kazatomprom 1H2026 Financial Results announcement (half-year ended 30 June 2026), uranium segment costs — 'All-in sustaining cash cost (attributable C1 + capital cost)'
In-situ leverage: 14.8×; in-situ resource value ÷ market cap, at the current spot

Dividend & analyst view for NATKY

Dividend

Kazatomprom JSC (NATKY) does not currently pay a dividend, which is common for uranium developers and explorers that reinvest in their projects.

Total mineral resources 1233.3 Mlbs U₃O₈ (measured 0.0, indicated 1233.3, inferred 0.0), plus 735.5 Mlbs of reserves · Kazatomprom 2025 Integrated Annual Report

National Atomic Company Kazatomprom JSC (OTC: NATKY, LSE: KAP) is the world's largest producer of uranium, accounting for approximately 21% of global primary uranium production. Headquartered in Astana, Kazakhstan, Kazatomprom operates through subsidiaries, joint ventures, and associates across 27 deposits grouped into 14 mining assets. All operations use in-situ recovery (ISR) technology, providing a significant cost advantage.

Margin & leverage

resource source Full screener →

Margin vs spot (AISC)

$53/lb

spot $91.89 − aisc $38 · 58% of spot · spot as of Nov 4, 2026, 1:30 PM ET · real

In-situ leverage

14.8×

in-situ resource value ÷ market cap

Jurisdiction

Multiple ISR fields

Computed live from the screener's cited resource and cost inputs and the current spot price; margins use AISC where the company disclosed it.

Mine projects

Cost curve →Full project table →

Project	Location	Status	Resource	Grade	Cost/lb	Source
Kazatomprom ISR mines (Tortkuduk, Budenovskoye, etc.)	Multiple ISR fieldsKazakhstan	Operating	600.0 Mlb	0.04% U3O8	$38/lbAISC	source

Curated mine & project database, updated 2026-10-30. Deposit type and restart status per the linked disclosures.

Production guidance vs actuals

Sector-wide tracker →

Guidance ranges and actuals by company

Wide bar: the original guided range. Narrow bar: the revised range. Tick: point guidance. Dot: the reported actual, gray inside the range, red below it, green above it. Hatched: guidance withdrawn (never scored). Each panel keeps the company's own unit and ownership basis; nothing is converted.

Kazatomprom

tU · 100%

Original rangeRevised rangeActual, in rangeBelow rangeAbove rangeWithdrawn

real · Company disclosures (verbatim), structured fields only · updated 2026-09-17yellowcakeanalytics.com

Period	Metric	Guidance	Revised	Actual	Delta	Source
CY2024	U3O8 production, tU (100% basis; attributable also shown)	21,000–22,500 tU (100% basis); 10,900–11,900 tU attributableas of 2024-02	22,500–23,500 tU (100% basis); 11,600–12,600 tU attributable	23,270 tU (100% basis); 12,286 tU attributable	In range+1.2% vs midpoint	source
CY2025	U3O8 production, tU (100% basis; attributable also shown)	30,500–31,500 tU (100% basis) initial intention (~100% of Subsoil Use Agreement levels)as of 2023-08	25,000–26,500 tU (100% basis); 13,000–14,000 tU attributable	25,839 tU (100% basis); 13,519 tU attributable	In range+0.3% vs midpoint	source
CY2026	Nominal licensed production level, tU (100% basis)	32,777 tU (~85 Mlb U3O8) per previous Subsoil Use Agreementsas of 2025-08	29,697 tU (~77 Mlb U3O8) — a ~3,000 tU (~8 Mlb), roughly 10% reduction	pending	Guidance cut (−9.4%)	source
CY2026	U3O8 production, tU (100% basis; attributable also shown)	27,500–29,000 tU (100% basis; 71.49–75.39 Mlb); 14,500–15,500 tU attributableas of 2026-02	—	pending	—	source

Guidance and actuals verbatim from company disclosures, revisions append-only. Updated 2026-09-17.

Quarterly production

Attributable

Sector-wide tracker →

Dried and drummed U3O8, latest period, company share:10.18 Mlbthree months ended September 30, 2026unverified

Period	Dried and drummedMlb U3O8, attributable	Sold (may include purchased material)Mlb U3O8, attributable	Source
three months ended September 30, 2026	10.18unverified	16.75unverified	source
three months ended 30 June 2026	9.90	15.73	source
three months ended 31 March 2026	8.44	3.99	source
three months ended 31 December 2025	9.64	14.87	source
year ended 31 December 2025full year	35.15	48.08revised	source
three months ended 30 September 2025	8.77	13.39	source
three months ended 30 June 2025	9.01	13.17	source
three months ended 31 March 2025	7.71revised	6.66	source

Figures copied from company disclosures and normalised to lb U3O8; the company's wording and unit are on hover. Revisions append-only. Updated 2026-10-22.

Term contracts announced

Full contract database →

Buyer	Volume	Delivery	Pricing	Announced	Source
CGN (China)Supply framework with CGN; volumes undisclosed.	undisc.	2024–2033	market-related	2024-06	source
CNNC (China)Long-term natural uranium supply to China; volumes not publicly disclosed.	undisc.	2024–2035	market-related	2023-11	source

Announced term contracts where this company is a seller, from the curated contract database. The long-term market is reported only in fragments — absence of a row is not absence of a contract.

Catalysts to watch

All sector catalysts →

by end of Q1 2027Kazatomprom 2027 production guidanceneutralKazatomprom 1H2026 operating and financial review (TQZ plant timing)
Kazatomprom sets each year's production guidance in its fourth-quarter trading update (January 27, 2025 for 2025; February 2, 2026 for 2026). The 2027 figure will show whether the TQZ sulphuric acid plant delay (commissioning now between Q3 2027 and Q1 2028) and the August 2026 cost increases constrain output from the world's largest producer.
by end of H2 2027Kazatomprom TQZ sulphuric acid plant commissioningbullishKazatomprom 1H2026 operating and financial review
Commissioning of the Taiynsha-Qyzyl-Zhar (TQZ) sulphuric acid plant, originally targeted for Q1 2027, is now projected between Q3 2027 and Q1 2028 per Kazatomprom's 1H2026 review. Acid availability is the stated condition on the company's production guidance, so the plant's start date bounds how fast Kazakh output can grow.

Mines & facilities

Mines map →

BudenovskoyeOperating · Turkestan, Kazakhstan
TortkudukOperating · Turkestan, Kazakhstan
Central MynkudukOperating · Turkestan, Kazakhstan
KaratauOperating · Turkestan, Kazakhstan

Guides on this company

Kazatomprom Stock (NATKY): The Complete Investor Guide

Frequently asked questions about NATKY

What does Kazatomprom (NATKY) do?

Kazatomprom is the world's largest uranium producer, mining about a fifth of global primary supply from in-situ recovery operations across Kazakhstan through its own mines and joint ventures with international partners.

How much uranium resources does Kazatomprom have?

Kazatomprom has approximately 1,233 million pounds (Mlbs) of U₃O₈ — 474,400 tonnes of uranium — in attributable mineral resources, inclusive of ore reserves, per the SRK-audited JORC statements in its 2025 Integrated Annual Report.

Is NATKY a good uranium investment?

Kazatomprom offers exposure to the world's largest and lowest-cost uranium producer with dominant market share, but carries geopolitical risk as all operations are in Kazakhstan.

What is the NATKY stock price today?

Kazatomprom JSC (NATKY) last closed at $60.00 on Nov 4, 2026 on its LSE: KAP listing, per EODHD end-of-day data. The quote in the page header refreshes with the live market price when markets are open.

Which uranium ETFs hold NATKY?

URNM holds NATKY at 5.17% of the fund (Nov 3, 2026), URA at 5.06% of the fund (Nov 3, 2026), per the issuers' published holdings. URNJ (Nov 3, 2026) does not list NATKY in its latest holdings. HURA also lists NATKY per the issuer fund page (weight not published here).

Which ETFs hold NATKY?

URA ETF: holds NATKY at 5.06% of the fund (as of Nov 3, 2026)
URNM ETF: holds NATKY at 5.17% of the fund (as of Nov 3, 2026)
HURA ETF: lists NATKY per the issuer fund page

Weights are each issuer's published fund holdings (Global X for URA; Sprott for URNM and URNJ), refreshed daily.

The weekly uranium brief

Spot moves, SPUT flows, filings, and contract news, once a week. Plus a free daily CSV of our uranium equity screener snapshot.

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