Switch 1%
Paladin Energy (PDN)
to
Betashares Global Uranium ETF (URNM)
*** GENERAL ADVICE ONLY ***
Description
Sector: Uranium
The URNM ETF is designed to mirror the performance of an index comprising top global uranium industry companies, prior to deducting fees and expenses. This fund offers investors a chance to capitalize on the anticipated growth of the global uranium sector. URNM provides investors with access to leading corporations involved in uranium mining, exploration, development, production, modern nuclear energy, and those possessing physical uranium or uranium royalties.
Metrics
Date: 11/1/2024
Net Assets: $93.5 M
Management Fee: 0.69% p.a
Trade
Allocation: Add 1% Entry: $9.5 Exit: $11 Stop: $8.5
Catalyst
With our Paladin holding a solid 20% in the money, we are recommending a 40% trim to the company specific play and switch to the broader and safer URNM ETF holding to remain involved in the Uranium/Nuclear power thematic.
PDN is scheduled to deliver fist production this quarter, so until that time we will run a 12.5% trailing stop (take win) and let the position run.
We may look to buy back PDN around 1.05 if it retreats from the current record highs.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.