Jefferies, Citi cut PT on Australia's Paladin Energy over mine ramp-up issues
28/10/2024 19:12
** Analysts at Jefferies still see Paladin Energy PDN.AX
delivering its full-year production guidance, while Citi
reiterates that company's production is still H2-weighted
** Jefferies, however, downgrades the uranium miner's PT to
A$14.00/shr from A$14.50/shr due to possible volatility in FY25
from Langer Heinrich mine (LHM) ramp-up
** Citi also downgrades PT to A$14.60/shr from A$15.00/shr
over LHM ramp-up issues causing PDN's FY25 NPAT estimates to
decline around 11%
** A planned shut-down ... is scheduled for November 2024
and is expected to run for approximately two weeks - Paladin
** Both brokerages remain "buy" rated on PDN, retaining
enough exposure in the market
** Stock up 5.2% YTD, as of last close
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))