2346 GMT - The rise in Paladin shares since hitting a four-year low in April indicates the market had overreacted to short-term Langer Heinrich commissioning issues, according to Shaw and Partners. In a note, the broker says the Langer Heinrich uranium plant was running exceptionally well prior to the rain events, citing recoveries at 88% and noting a site visit by its analysts in February. Shaw reiterates a buy recommendation and A$10.10 target. It says Paladin disclosed a US$20 million impairment on its ore stockpiles in new quarterly fiscal results. The impairment isn't a surprise and won't impact Shaw's valuation or price target, the broker says. Paladin ended Tuesday at A$6.39/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
May 13, 2025 19:46 ET (23:46 GMT)
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