PENINSULA ENERGY LIMITED (PEN)
Share Price Analysis and Chart

31/10/2025

1

Buy, High Risk

$1.33

189.13%

Peninsula Energy has returned to production at its Lance Uranium Project in Wyoming, with 837 pounds of yellowcake produced in the September quarter, highlights Shaw and Partners.

Operations are ramping-up following management and board changes, a reset of offtake contracts, and a strengthened balance sheet after a $70m capital raise, highlight the analysts.

Peninsula’s revised plan targets 400-600klbpa in 2026-27 (Horizon 2) and 1.2-1.5mlbpa from 2028 (Horizon 3), with potential expansion to 3mlbpa.

The Buy, High Risk rating and $1.33 target are maintained.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.70 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.40 cents.

05/11/2025

1

Speculative Buy

$1.03

123.91%

Canaccord Genuity observes September quarter focused on funding and establishing the foundation for the company to become a key US domestic producer.

Peninsula Energy's first yellowcake production was a milestone, with all guidance retained and commissioning progressing smoothly, though still in early stages.

As per the broker, operational improvements from the reset include tighter well spacing, improved oxidant use, and a streamlined workforce to enhance recovery and efficiency.

With $36m in cash, corrosion rectification underway, and production ramp-up targeted to 50klbs targeted for 2025, the broker views the restart as moderately conservative yet achievable.

Canaccord Genuity maintains a Speculative Buy rating and $1.03 target price.