Uranium stocks have been under pressure over the last few weeks, and we are ruing a missed opportunity to take profits (again) on our Paladin (PDN) position when it traded over $1 in recent weeks having successfully done so earlier in the year. We continue to like the Uranium space overall and feel the selling has come as a result of a lack of news flow in a sector that got a bit hot. Next week the EU will vote on whether to include nuclear power as a green alternative which would help support further investment in the space and ramp up consolidation. Early next year there will be a final decision made on whether to allow the SPROTT Physical uranium vehicle to recommence trading in the US. While positive outcomes here will help, we feel they play second fiddle to a rapidly improving uranium market and the medium term outlook remains buoyant. As a result, we are likely to add to our position in Paladin (PDN), the preferred pick in the space.
MM remains bullish PDN
Add To Hit List
