Shares of Paladin Energy (ASX, TSX: PDN) plummeted on Wednesday after delivering an underwhelming uranium production guidance for the 2026 financial year despite reporting its best operating quarter.
The Australian miner, which operates the Langer Heinrich mine in Namibia, produced 993,843 lb. of uranium oxides (U₃O₈) for three months ended June 30, representing a 33% rise over the third quarter and its best operating performance in fiscal 2025. This brings its annual production to just over 3 million lb.
Since declaring commercial production at Langer Heinrich in spring 2024, the company had initially forecasted production of between 4-4.5 million lb. U₃O₈ for the current fiscal year. However, it revised down the target to 3.6 million lb. in late 2024, and then scrapped the guidance entirely as severe weather conditions impacted its operations. Paladin has since been hit with class action…
