Jefferies flags improving uranium pricing, Australia's Paladin remains top pick

Boss Energy

03/12/2025 18:34

** Jefferies says term contracting volumes for uranium surged in the last 6 weeks through November, erasing months of sluggish activity

** Brokerage highlights seasonal weakness into the holiday period and spot price bifurcation remains headwind into year-end, but not reflective of underlying uranium fuel cycle fundamentals

** Jefferies remains constructive on the sector's outlook for 1H2026 from supply security, production constraints and policy support

** Adds Paladin Energy PDN.AX is preferred uranium exposure, while expectations on Boss Energy BOE.AX remain subject to co's impending independent operational review outcomes

** Paladin up 12.2% and Boss down 30.5% so far this year, as of last close

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))