http://www.fostock.com.au/announcements/paladin-energy-ltd-pdn-asx
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22-Jan-2014
Morning Report
Paladin Energy Ltd (PDN.ASX; $0.56/sh; Mkt Cap $539m) – Bond spike, a good indicator of future confidence – TRADING BUY
Today’s Top Pick.
Paladin Energy Ltd (PDN.ASX; $0.56/sh; Mkt Cap $539m) – Bond spike, a good indicator of future confidence – TRADING BUY
PDN’s share price reaction has been fairly subdued given a partial sell down of Langer Heinrich (‘LH’) and a favourable restructuring of project finance. However, we believe the spike in the PDN bond prices, which have jumped 20% since the announcement (chart below), provides a good indicator of future confidence and we expect the equity price to follow suit.
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PDN had 93m short position as of 15/01/14. We anticipate a short covering rally has and should continue to occur as a result of the sale and also exacerbated by the increasing bond price which could result in bond holders which are hedged through a short equity position to unwind their hedge positions.
TRADING BUY
morning report paladin energy ltd -trading buy
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Last
$13.98 |
Change
0.810(6.15%) |
Mkt cap ! $4.179B | |||
| Open | High | Low | Value | Volume |
| $13.93 | $14.28 | $13.83 | $47.88M | 3.408M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $13.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.98 | 6031 | 2 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |