LARAMIDE RESOURCES LIMITED (LAM)
Share Price Analysis and Chart

12/05/2026

1

Speculative Buy

$1.60

106.45%

Canaccord Genuity maintains a Speculative Buy rating for Laramide Resources and raises the target price to $1.60 from $1.55 following the passage of a bill in the New South Wales Upper House to repeal the state's uranium mining ban.

Commentary states this legislative momentum provides a strong policy signal for Queensland to potentially reconsider its own long-standing prohibitions, directly benefiting the advancement of the company's flagship Westmoreland project.

An updated economic study for Westmoreland is expected in the first half of 2026 to outline a robust operation featuring shallow open pit mining and forecast annual production of 3.5m to 4.0m pounds of uranium.

Shares currently trade at a significant discount to developer peers due to political uncertainty, with the broker arguing this is presenting a compelling value proposition as community sentiment improves and global energy security priorities drive renewed interest in nuclear power.

The minor target price upgrade reflects routine adjustments for recent financial actuals.