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This report is an updated version of the report published on the 16 January 2024 at 3:55 PM AEDT.
Peninsula Energy Limited (ASX: PEN)
PEN is an Australia-based uranium mining company. The company operates in 3 segments: Lance Projects, Karoo Projects, and South Africa.
Recommendation Rationale – SELL at AUD 0.138
PEN Daily Chart
Valuation Methodology: EV/Sales Approach (FY June'25E) (Illustrative)
Considering the potential risk of construction and project commercialization delays, the company might trade at a slight discount to its peers. For valuation, few peers like Yancoal Australia Ltd (ASX: YAL), Whitehaven Coal Ltd (ASX: WHC), New Hope Corporation Ltd (ASX: NHC), and others have been considered. Considering the current trading levels and risks associated, downside indicated by the valuation, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 0.138, as of January 16, 2024, at 10:15 AM AEDT.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is January 16, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
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