Last week, Paladin Energy (PDN) reported an impressive second-quarter trading update, with fiscal 2026 production forecast to come in toward the upper end of its outlook range of 4 million to 4.4 million pounds of uranium oxide. The update was enough on the day to power its shares up by more than +13%, posting new one-year highs. The markets have been used to negative surprises from PDN, and the combination of a strong uranium price and a company finally executing well has seen the stock extend its advance gaining +45% so far in 2026.
- We believe that PDN can test its 2024 high through 2026/7, around +30% higher: MM owns Paladin in its Active Growth Portfolio.
MM remains long and bullish PDN around $14
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