2234 GMT - Paladin Energy's A$300 million equity raising looks opportunistic to Ord Minnett as the uranium miner capitalizes on a strong share price. Paladin aims to use the proceeds to advance the Patterson Lake South uranium project in the Athabasca Basin of Canada's Saskatchewan province. "The raise was prudent as cash would not have met the new Patterson Lake South spend for engineering," analyst Matthew Hope says. Ord Minnett downgrades Paladin to "hold," from "accumulate," noting the stock has rallied about 20% since late August and now looks fully valued. Its price target falls 1.3%, to A$7.60/share. Paladin was at A$7.88 prior to entering a trading halt for the raising to take place. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
September 16, 2025 18:34 ET (22:34 GMT)
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