Sydney, February 1, 2026, 17:22 AEDT — Market closed.
- Paladin Energy shares fell 2.1% to close at A$13.84 on Friday, slipping from a peak of A$14.44.
- Uranium climbed back above $100 a pound, drawing trader attention to spot-price volatility and fund purchases.
- Paladin’s interim results, set for February 12, mark the next key date for investors.
Paladin Energy’s shares closed 2.1% lower at A$13.84 on Friday, having reached A$14.44 earlier in the day. The Australian Securities Exchange is closed for the weekend, with trading scheduled to pick up again on Monday. (Investing)
This shift is significant now as uranium-related stocks have started trading like a macro play once more: headlines, flows, and a spot market with sparse data that can shift quickly. That’s been enough to jolt equities within hours.
Spot uranium climbed back above $100 a pound this week following new purchases and a cash raise by Sprott Physical Uranium Trust, according to a report from Investing News Network. Guy Keller described the move as entering “a new range for the spot price,” calling $100 “a new floor” for the coming 12 months. (Investing News Network (INN))
Uranium pricing remains murky compared to many other commodities. Cameco points out that contracts are hammered out behind closed doors between buyers and sellers, not on a public exchange. That lack of transparency can make published reference prices swing sharply, especially when funds step in to buy. (Cameco)
Other ASX uranium stocks slipped by Friday’s end. Boss Energy dropped 4.9% to finish at A$1.95, and Deep Yellow slipped 2.4% to A$2.84. (StockAnalysis)
Paladin’s focus remains on output, costs, and the uranium market. In its December-quarter report, the company revealed it produced 1.23 Mlb of U3O8 (triuranium octoxide, the typical uranium concentrate) and sold 1.43 Mlb. It’s projecting full-year production near the top of its 4.0–4.4 Mlb guidance. The company also announced interim financial results will be released on Feb. 12. CEO Paul Hemburrow said he was “delighted” with the ramp-up at the Langer Heinrich Mine in Namibia. Additionally, Paladin confirmed it will continue to defend against a shareholder class action.
Uranium volumes and realised prices often swing from one quarter to the next, driven by changes in contract terms and delivery schedules. Investors usually see “strong sales” and “strong production” as separate cues, particularly with the spot market setting the tone.
The downside is clear-cut: if uranium dips below triple digits again and demand from physical funds fades, the momentum in uranium miners could unravel fast. A hiccup in operations during ramp-up would only deepen the slide.
As trading resumes, the key question is whether Friday’s dip sparks another wave of profit-taking or simply marks a brief halt. Uranium price news is expected to drive the action either way.
Paladin’s next key moment arrives February 12, with interim financial results due. Investors will be watching closely for updates on production growth, costs, and contracted sales.
