BUZZ-Australia's Paladin Energy leads ASX 200 on quarterly production boost

Reuters
04-23
BUZZ-Australia's Paladin Energy leads ASX 200 on quarterly production boost

** Shares of uranium miner Paladin Energy PDN.AX rise as much as 20.1% to A$4.77, their biggest intraday percentage gain since mid-October 2021

** Co says its March-quarter uranium production jumps 17% QoQ to 0.745 million pounds (mlb) of U3O8, beating Citi estimates by 20%

** Stock is biggest percentage gainer in the benchmark S&P/ASX 200 index .AXJO

** Stock hits its highest level since April 2

** Analysts at Citi say positive result given rainfall event with realized price of $69.9/lb exceeded expectations of $60/lb

** Stock down 36.8% this year, including the day's move

(Reporting by Roushni Nair in Bengaluru)

((Roushni.nair@thomsonreuters.com;))

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