Uranium company PDN has more than doubled from its panic June low, and while we remain bullish, the “easy money” is looking increasingly likely to be in the rearview mirror. We have initially been targeting the ~$1.20 area for this advance; hence, we can see ourselves trimming/closing our position (s) this side of Christmas – we own PDN in both our Flagship Growth and Emerging Companies Portfolio.
- We believe a period of consolidation is overdue for PDN, but the trend is your friend, and it’s clearly been up for the uranium stocks over the last month with spot Uranium pricing hitting US$70/pound.
MM is long and bullish PDN
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