Paladin Energy Downgraded to “Underperform” at Raymond James (PDN)
Paladin Energy (TSE:PDN) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued on Thursday. They currently have a C$0.25 target price on the stock, down from their previous target price of C$0.70. Raymond James’ price objective would indicate a potential downside of 21.88% from the company’s current price.
Shares of Paladin Energy (TSE:PDN) remained flat at $0.32 during during mid-day trading trading on Thursday. 211,955 shares of the company’s stock traded hands. Paladin Energy has a 52-week low of $0.31 and a 52-week high of $1.07. The stock has a 50-day moving average of $0.39 and a 200-day moving average of $0.46. The company’s market cap is $308.6 million.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Paladin Energy in a research note on Friday, May 16th. They now have a C$0.60 price target on the stock, down previously from C$0.65. Separately, analysts at Scotiabank cut their price target on shares of Paladin Energy from C$0.75 to C$0.65 in a research note on Friday, May 16th. They now have a “sector perform” rating on the stock. Finally, analysts at TD Securities reiterated a “hold” rating on shares of Paladin Energy in a research note on Friday, May 16th. They now have a C$0.60 price target on the stock, down previously from C$0.65. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$0.61.
Paladin Energy Limited (TSE:PDN), is engaged in the development and operation of uranium mines in Africa, together with global exploration and evaluation activities in Africa, Australia and Canada.
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