Uranium stock BOE surged +6.2% on Monday, although it’s still down 6.7% Year-to-date compared to Paladin (PDN), which has rallied over 32%. BOE operates the Honeymoon project in South Australia, and having restarted operations in 2024, they are ramping up to full production of 2.4Mlb in FY27. Their processing plant is still in construction, with the 2nd and 3rd ion exchange columns expected to be installed by year-end, but the risk associated with delivery dates looks more than covered by the stock’s recent underperformance.
- We still prefer PDN over BOE, but the valuation gap is closing, and BOE will do well if the positive vibe across the uranium sector remains in play.
MM is bullish BOE
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