Paladin (PDN) and Boss Energy (BOE)
Appreciate if we I can have your views on two uranium miners (PDN and BOE), especially what would make you pull the exit trigger and at what price you would consider exiting.
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Answer
Hi G,
We are bullish on the uranium thematic over the coming years but its a been a bumpy ride for a number ASX names so far this year: Boss Energy (BOE) -25.3%, Paladin (PDN) -3.7%, while Deep Yellow (DYL) +52% is up. Interestingly for the followers of ETFs, of these three, DYL is the largest holding in the ASX-traded URNM ETF although its almost half the size of PDN illustrating how their holdings often migrate towards outperformers which regularly leads to periods of sharp reversion.
In terms of the two specific stocks you mentioned:
Boss Energy (BOE): We are not keen on BOE believing it’s a coin toss around $1.80 as we wait on the outcome of the independent review to provide more clarity on its resource and the economics of pulling it out of the ground.
Paladin Energy (PDN): There were no nasty surprises in Thursday result and we like the stock into dips towards $7 but note we’re already long – our initial target is around the $10 area.
