PENINSULA ENERGY LIMITED (PEN)
Share Price Analysis and Chart

15/04/2025

3

Downgrade to Hold from Buy

$1.00

55.04%

Shaw and Partners analysts have downgraded uranium price forecasts, judging their current forecasts are too high. The 2025 estimate is lowered to US$77/lb from US$108/lb, and 2026 cut to US$123/lb from US$150/lb.

The broker believes Peninsula Energy will need debt funding or equity injection as it does not have enough capital to reach cashflow breakeven. 

Rating downgraded to Hold from Buy until there is enough clarity on the financing and production plans.

Target cut to $1.00 from $4.60, and is set at a discount to the broker's $1.71 DCF valuation.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.30 cents.
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.90 cents.

13/03/2025

1

Speculative Buy

$2.18

237.98%

Canaccord Genuity has delayed its forecast for the first U308 production at the Lance Project to the September quarter from June which compares with Peninsula Energy's forecast for the June quarter (pushed back from March).

The broker's reasons include issues hiring skilled labour, restructuring delays with change in management, and general conservatism following new-end processing capacity.

The company had US$49.9m cash balance in December and announced it is in discussions for additional funding with the US government and international financiers.

Target price cut to $2.18 from $2.50. Speculative Buy maintained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -7.83 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.38 cents.