Paladin Energy (OTCMKTS:PALAF) Shares Up 4.8% – Here’s Why

Paladin Energy Ltd. (OTCMKTS:PALAF)’s stock price shot up 4.8% during trading on Wednesday . The company traded as high as $6.66 and last traded at $6.49. 18,146 shares traded hands during trading, a decline of 86% from the average session volume of 131,850 shares. The stock had previously closed at $6.1950.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group assumed coverage on shares of Paladin Energy in a report on Wednesday, December 17th. They issued a “neutral” rating and a $9.05 price target on the stock. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.05.

Paladin Energy Trading Up 2.7%

The company has a current ratio of 2.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $5.59 and a 200 day simple moving average of $5.20. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -53.04 and a beta of 1.53.

Paladin Energy (OTCMKTS:PALAF) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $35.97 million during the quarter, compared to analyst estimates of $35.98 million. As a group, equities research analysts predict that Paladin Energy Ltd. will post 0.06 EPS for the current fiscal year.

About Paladin Energy

Paladin Energy Ltd is an Australia‐based company engaged in the exploration, development and production of uranium concentrate for the global nuclear power industry. Primarily known for mining uranium oxide (U3O8), Paladin supplies a key fuel source used by utilities to generate low-carbon electricity. The company’s securities are traded on the OTC Markets under the ticker PALAF, alongside listings on the Australian Securities Exchange and the Toronto Stock Exchange.

Paladin’s flagship operation is the Langer Heinrich mine in Namibia, which recommenced production in 2021 following a period of care and maintenance.