Citi expects Australia's Paladin energy to benefit from Kazatomprom's results

Natsional'naya Atomnaya Kompaniya Kazatomprom AO

10/03/2024 21:38

** Analysts at Citi see Australian uranium miner Paladin
Energy  PDN.AX  to benefit from the FY results of Kazakhstan's
Kazatomprom  KZAP.KZ , due on March 15 
    ** Brokerage expects KZAP to downgrade its CY25 production
guidance for uranium ore (U3O8)
    ** Adds, since KZAP accounts for 40% of U3O8 mined supply,
the result could push prices higher, benefiting PDN's share
price
    ** PDN stock up 26.4% YTD, based on last close

 (Reporting by Aaditya Govind Rao in Bengaluru; Editing by
Sandra Maler)
 ((Aaditya.govindrao@thomsonreuters.com;))