Australia's Deep Yellow falls to over 1-1/2-year low after Jefferies cuts PT

DEEP YELLOW

Mon 04:50

Updates
** Shares of Deep Yellow DYL.AX fall as much as 7.9% to A$0.755, marking their lowest level since early April 2025
** Analysts at Jefferies lower price target for the uranium miner to A$1.20 from A$1.90; keep "buy" rating
** Co on Friday deferred final investment decision for Tumas Uranium Project, Namibia, beyond Q4 2026, citing weak equity market conditions 
** Jefferies expects June 2027 FID for Tumas, with first ore in October 2029
** Brokerage adds FID deferral preserves financing flexibility, but schedule slippage, capital escalation and higher operating costs erode net present value 
** Uranium equities have materially lagged underlying uranium market, with risk-off positioning and higher interest rates weighing on long-duration developers despite strong term pricing - Jefferies
** DYL down 58.4% YTD

 (Reporting by Keshav Singh Chundawat in Bengaluru; Editing by Cynthia Osterman)
 ((Keshav.singhchundawat@thomsonreuters.com))