Sydney, Jan 28, 2026, 17:32 (AEDT) — The market has closed.
- Paladin Energy climbed 5.4% on Wednesday, closing at A$13.94, just shy of its session peak.
- As futures neared $91 a pound, uranium-linked miners surged.
- Attention now shifts to Paladin’s interim results set for Feb. 12, with the big question: will the uranium rally last into next week?
Paladin Energy Ltd’s shares ended Wednesday 5.4% higher at A$13.94, hitting a session peak of A$13.99. The uranium producer is now trading close to the top of its 52-week range. (Investing)
With the ASX closed today, Thursday’s key question is whether the uranium rally will hold or fade as swiftly as it appeared. Paladin, often seen as the go-to gauge for uranium sentiment in Australia, usually moves more sharply than the commodity itself.
Uranium futures hovered near $91.15 a pound, hitting their highest point in nearly two years, MarketIndex reported. The surge came as uranium stocks rallied broadly. Boss Energy, Bannerman Energy, and Lotus Resources stood out as some of the top performers during the session, according to the same source. (Market Index)
Positioning matters here. MarketIndex data put Paladin’s short interest at 11.87%, slipping 0.61 percentage points from the previous week, signaling a pullback in bearish wagers on uranium stocks. When shorts get trimmed, rallies tend to run longer. (Market Index)
Paladin remains focused on ramping up production. In its December-quarter update, the company reported 1.23 million pounds of U_3O_8, a 16% jump from the previous quarter. It expects full-year output to land near the top of its 4.0 to 4.4 million pounds guidance. Sales hit 1.43 million pounds, with a realised price of $71.8 per pound. Managing director and CEO Paul Hemburrow highlighted that this latest quarter “provides insight into the robust performance that can be achieved” at Langer Heinrich. The company plans to release interim financial results on Feb. 12. (Co)
Investors will focus less on headlines next week and more on whether uranium prices hold strong enough to keep attracting capital — and if miners can deliver solid operating results to match. Paladin’s upcoming update on production reliability, realized prices, and costs will probably carry more weight than the usual sector noise.
One challenge: uranium pricing isn’t as straightforward as with oil or copper. Most deals happen behind closed doors through private contracts. The market tends to rely on published benchmarks and futures prices for guidance, rather than on a true exchange-traded “spot” market. (Cameco)
The risk here isn’t just theoretical. Uranium stocks can surge suddenly, but they can drop just as fast if commodity momentum stalls, contracting eases, or mine ramp-ups fall short after a strong streak of quarters.
Heading into Thursday and the rest of the week, eyes will be on uranium prices. Traders will then track how that momentum spills over into the more popular names, watching closely for any new short-covering. If the sector keeps climbing, the key question is whether buyers are ready to chase prices higher after the recent surge.
Paladin’s interim financial results drop on Feb. 12, setting the stage for a critical check-in on the ramp-up progress. Investors will also zero in on whether there’s any change in the FY2026 guidance outlook.
