Paladin Energy (ASX:PDN) offered the cleanest value opportunity among uranium producers, trading at 0.79 times price to net present value, implying a long-term uranium price of about $60 per pound and around 28% upside to spot-implied net asset value, according to a Wednesday Jefferies note.

The investment firm added that Deep Yellow (ASX:DYL) trades at the tightest at 0.98 times price to net asset value, implying a long-term uranium price of $67 per pound and about 44% uplift to spot-implied net asset value once the Tumas project is fully financed.

According to the note, Boss Energy (ASX:BOE) also screens as inexpensive at 0.89 times price to net asset value, implying a long-term uranium price of about $68 per pound. Jefferies' operational assumptions for Boss remain dependent on the upcoming independent operational review, due in the second quarter of fiscal 2026.

Jefferies kept a hold rating on Boss Energy and Deep Yellow with a price target of AU$2 and AU$1.65, respectively.

Jefferies has a buy rating on Paladin's Australian shares with a price target of AU$11.

Paladin shares were up almost 3% while Boss Energy and Deep Yellow were up almost 1% in recent Wednesday trade.