MM has discussed PDN and uranium at length through 2025 with an oversubscribed equity raise and a solid September quarter update lifting confidence in their operations, sending the heavily shorted stock up towards $10 – not as dramatic as gains across the lithium names but impressive all the same. However, the stock has since retraced ~20% in line with a pullback across the whole complex, in our opinion, providing excellent risk/reward buying ~$8 – it’s on our radar for a Trade Idea.
- We can see PDN trading above $10 into 2026 – MM owns PDN in the Active Growth Portfolio and Emerging Companies Portfolio.
MM is long and bullish towards PDN
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