BUZZ-Jefferies, Citi cut PT on Australia's Paladin Energy over mine ramp-up issues

Reuters
29 Oct 2024

** Analysts at Jefferies still see Paladin Energy 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 $(LHM.AU)$ 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))

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