BOSS ENERGY LTD (BOE.AU) saw its stock price plummet by 5.46% during intraday trading on Friday, marking a significant decline for the uranium producer.
The sharp drop follows news that the company needs record fourth-quarter output to achieve its annual production guidance. Rain has restricted access to Boss Energy's Honeymoon mine in South Australia, temporarily halting supplies of reagents and other goods needed for production, creating operational challenges.
Analysts note that to meet its annual guidance of 1.6 million pounds of U3O8, Boss Energy would need to produce 488,000-518,000 lbs in the fourth quarter after forecasting only 240,000-270,000 lbs for the third quarter. Jefferies maintains a hold rating on the stock with a price target of A$1.60 per share, below its recent trading level.