Paladin (PDN) surges over 13% following a strong quarter
Paladin Energy (PDN) shares have surged over 13% to their highest since October 2024 after the Australian uranium producer’s 2Q production and sales grew q/q:
- The strong quarter presents upside risks to consensus estimates, for example 2Q output exceeded Morgan Stanley estimates by about 22%, while sales beat by 19%.
- When a stock is carrying a 12% short position these aggressive squeezes can easily happen on good news.
MM is long in our Active Growth Portfolio and sees no reason to take profit at this stage remaining bullish on the uranium thematic medium term.
MM is long and bullish Paladin Energy (PDN) around $13
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