Sydney, Jan 31, 2026, 17:36 AEDT — Market closed
Paladin Energy shares finished Friday down 2.1%, closing at A$13.84 after fluctuating between A$13.60 and A$14.44. The stock has stood out as one of the stronger uranium plays on the ASX this month but pulled back into the weekend. (Market Index)
The backdrop is getting louder. Spot uranium — the short-term price for U3O8, known as “yellowcake” — has climbed back over $100 a pound, according to Energy Intelligence. The rise follows buying by Sprott Physical Uranium Trust, which squeezed supply. Energy Intelligence reported the trust snapped up 500,000 pounds on Jan. 27 and 1.4 million pounds on Jan. 29, shortly after a major capital raise. (Energy Intelligence)
That’s crucial for Paladin at the moment, since the trade hinges as much on flow as on the specifics of each mine. Sharp swings in the physical price tend to attract quick capital, and when the tape reverses, the exit route can tighten fast.
A filing late last week introduced a new twist. Kopernik Global Investors, LLC revealed it dropped below the substantial holder threshold on Jan. 23. In Australia, anyone holding 5% or more voting power must disclose it—and notify again once they dip under that mark.
When a major shareholder steps aside, it often casts a shadow over the stock. While the destination of the stake remains unclear, it shifts the narrative around any rallies—especially with uranium prices grabbing attention again this week.
When trading kicks off Monday, the key question is whether uranium can stay above $100 and if miners will follow suit—or if profit-taking will step in.
Earlier this month, a Reuters column highlighted a tightening uranium market, pointing out that U.S. spot prices closed 2025 near $82 a pound, while long-term contracts were edging toward $100. This angle has kept investors locked on the commodity itself, beyond just the usual quarterly results. (Reuters)
Boss Energy and Deep Yellow, key local players, often track the same uranium trends. Abroad, NexGen Energy draws investor attention whenever risk appetite shifts across the sector.
The downside scenario is straightforward. The uranium spot market remains thin, so a drop in physical-fund demand—or a big seller stepping in—could slam prices and stocks fast. Miners typically react more sharply than the commodity itself.
Paladin reported producing 1.23 million pounds of U3O8 in the December quarter, marking a 16% increase from the previous period. The company sold 1.43 million pounds at an average realised price of $71.8 per pound. CEO Paul Hemburrow said the results “provide insight into the robust performance” anticipated as the c
ompany is increasing activity at the Langer Heinrich Mine in Namibia and plans to publish interim financial results on Feb. 12. (Paladin Energy Limited)
