Our long-term view that the price of uranium would increase on the back of green acceptance of nuclear power and the low supply is playing out as expected.
The spot price for Uranium has increased from $75 a pound all the way up to $100 a pound today since we made the initial recommendation. Many analysts now anticipate that the uranium price has the potential to keep moving higher.
Paladin Energy (PDN) is in the right place to benefit from the increased price with production from its restarted mine coming online this quarter.
So, it is time to increase the stop loss on the position. We will still leave the position without a profit target as the share price has the potential to move sharply higher.
TRADE ACTION
Stop loss: Increase from $0.875 to $1.20
Target price: No target price
