Australia's Boss Energy slips to 3-year low; Jefferies cuts PT on Honeymoon project outlook

Boss Energy

29/07/2025 05:36

** Shares of Boss Energy BOE.AX extend losses, slip 6.6% to A$1.78, their lowest since mid-July 2022

** Stock among the top loser in the benchmark ASX200 index .AXJO

** The uranium miner on Monday flagged operational challenges at its flagship Honeymoon project in South Australia, sending its shares to a three-year low

** Jefferies trims PT to A$2 from A$5, while maintains "hold" rating

** Brokerage says removing clarity around Honeymoon ops achieving production capacity from FY27 casts doubt over the asset's medium-term earnings potential

** Adds that FY26 operating expenses and sustaining capex were above expectations

** Jefferies sees the potential impact as more modest than initially interpreted but stays cautious, awaiting further clarity from updates over the next six months

** YTD, stock down 28.3%

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))