Australia's Paladin Energy leads ASX on production boost; peers track gains

DEEP YELLOW

23/04/2025 04:31

Updates Paladin shares, adds moves in other uranium miners

** Shares of uranium miner Paladin Energy PDN.AX jump 27.3% to A$5.065, their biggest intraday percentage gain since February

** Co says its March-quarter uranium production jumps 17% QoQ to 0.745 million pounds (mlb) of  U3O8, beating Citi estimates by 20%

** Stock is biggest percentage gainer in the benchmark S&P/ASX 200 index .AXJO

** Stock hits its highest level since April 2

** Analysts at Citi say positive result given rainfall event with realized price of $69.9/lb exceeded expectations of $60/lb

** Peers Boss Energy BOE.AX and Deep Yellow DYL.AX gain 9% and 11.1%, respectively, and are among the top movers of ASX 200 benchmark

** PDN stock down 33.1% this year, including the day's move

 (Reporting by Roushni Nair and Manasi Dasa in Bengaluru)

 ((Roushni.nair@thomsonreuters.com;))