Citi keeps 'buy' on Australia's Paladin after production miss; sees 2H recovery

Paladin Energy

14/10/2026 19:35

** Citi says uranium miner Paladin's PDN.AX 1QFY27 production missed its expectations due to weaker recoveries
** Brokerage notes PDN reiterating FY27 outlook, with improving recoveries and grades expected to support a production recovery weighted to the second half of FY27
** Citi is disappointed by weaker cash generation due to lower receipts and higher costs, but it continues to see limited funding risk for PLS
** Adds, management remains open to a strategic partner, which Citi believes could unlock value beyond funding benefits
** Citi keeps its "buy" rating
** Stock down nearly 9% YTD, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))