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BUZZ-Australian uranium producer Paladin hits a week high on swinging to HY profit

Reuters
Feb 12
BUZZ-Australian uranium producer Paladin hits a week high on swinging to HY profit

** Shares of uranium producer Paladin Energy PDN.AX advance as much as 3.02% to A$12.620, hitting its highest since February 5

** Shares are poised for a fourth consecutive rise and rank among the ASX 200’s .AXJO top performers as the benchmark gains 0.6%

** Co reversed last year’s $4.6 million loss, posting a HY profit of $872,000; rev up 79% YoY

** Results were underpinned by strong sales and a stronger uranium market

** Results driven by strong sales at an average realised price of $70.5/lb, reflecting the quality of the Langer Heinrich Mine (LHM) contract book and strengthening uranium pricing environment

** YTD, PDN up 31.5%, beating AXJO's gains of 4.1%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))

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