PDN recently delivered a solid result discussed in detail Here. The uranium sector is not for the faint hearted but we are bullish and believe investors can continue to adopt a buy the dip, trim the strength approach towards PDN. This week we heard that PDN is optimistic that its Langer Heinrich uranium mine in Namibia will reach full capacity by June, just as a supply gap opens. We continue to see PDN benefitting from the lack of exploration over the last decade, as it also advances its Patterson Lake South uranium project in Saskatchewan, Canada. Assuming we are correct on uranium, PDN remains a great vehicle for exposure to the thematic as it executes well in this tricky field.
- We can see PDN testing the $15 level, and probably higher through 2026/7 – MM owns PDN in the Active Growth Portfolio.
MM is bullish towards PDN around $11.20
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