2221 GMT - Paladin Energy's latest update about its rain-hit Langer Heinrich uranium mine in Namibia spooks Jefferies, which had already expected the company to miss annual output guidance. Paladin withdrew that guidance on Wednesday, citing disruption to mining and difficulties associated with processing saturated stockpiled ore. "The issues surrounding the extent of impacts to both the stockpiles and open pit mining appear more aggressive than our prior expectations," Jefferies analyst Daniel Roden says. Jefferies cuts forecasts for FY 2025 and FY 2026 production to reflect a more aggressive impact to the rampup of Langer Heinrich, and downgrades Paladin's stock to hold from buy. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 26, 2025 18:22 ET (22:22 GMT)
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