Sydney, Jan 23, 2026, 17:12 AEDT — Market closed.
Paladin Energy Ltd (ASX:PDN) shares slipped 0.4% to close at A$13.31 on Friday, pulling back slightly after a strong surge earlier this week that brought the uranium miner near its 52-week peak. The stock fluctuated between A$12.91 and A$13.42, with roughly 7.0 million shares exchanging hands, per Investing.com data. (Investing)
The pullback follows Paladin’s December-quarter update, which showed higher uranium production. The company also expects full-year output to hit the upper range of its guidance as it scales up the Langer Heinrich mine in Namibia. “I am delighted by our progress in ramping-up operations at Langer Heinrich Mine,” CEO Paul Hemburrow said in the quarterly report.
That’s crucial today as uranium-linked shares react sharply to even minor shifts in output and realized prices. Utilities have returned to the market hunting for long-term supply, while investors are keenly watching whether producers can meet the demands of tighter contracting cycles. Uranium futures hovered near $86 a pound on Thursday, climbing roughly 1%. Despite this, much of the industry’s material still moves through long-term contracts, not open exchange trading. (Investing)
Paladin revealed it sold 1.43 million pounds of U_3O_8 this quarter, fetching an average price of $71.8 per pound. Production costs stood at $39.7 per pound. The company also highlighted contracts for 23 million pounds stretching out to 2030, with pricing split between market-linked deals and fixed or escalated contracts. (Paladin Energy Limited)
Broker opinions grew more divided as the share price climbed. JPMorgan downgraded Paladin to underweight, putting a price target at A$9.50. The bank argued the rally had pushed valuation too far and flagged momentum indicators — specifically the RSI, a technical tool traders watch for “overbought” signals — since the stock neared recent highs. (Investing)
Other firms tracked by Investing.com showed less restraint. On Jan. 22, Canaccord Genuity stuck to a buy rating, setting a target of A$13.60. Goldman Sachs held its ground with a hold rating and an A$11.30 target, according to the same data. (Investing)
Paladin’s action coincided with steady performances across other ASX uranium stocks. Boss Energy climbed roughly 3% to A$1.87, while Deep Yellow added around 1.7%, reaching A$2.34, according to Investing.com prices. (Investing)
The rally leaves little margin for error. On the quarterly call, chief commercial officer Alex Rybak cautioned, “We just don’t see how the market on the supply side is going to meet the forecast demand in the 2030s.” His take hinges on higher prices but also means the cost of mistiming the uranium cycle could be steep if demand falters. (Investing)
Investors will focus on the final mining fleet deliveries and commissioning at Langer Heinrich this week. Paladin expects these by the end of January, with commissioning slated for the March quarter. The next major event is Paladin’s interim results, scheduled for Feb. 12. (Afr)
