Paladin Energy's PLS Project Emerging as Crown Jewel
Dow Jones
Sep 03
0446 GMT - Paladin Energy's Patterson Lake South uranium project already contributes more to Macquarie's valuation of the stock than the company's operating Langer Heinrich mine. "And with time passage and resource growth, this gap looks set to expand further," says the bank. Recent drill results have increased management's confidence in PLS resource growth, and Paladin has time to consider offtake strategies, Macquarie says. It upgrades the stock to outperform from neutral and raises its target by 7% to A$13.85/share. The stock is up 4.2% at A$11.58.
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