Stock Track | Boss Energy Plummets 5.26% Intraday After Broker Cuts Target on Disappointing Deposit Grades
Stock Track
Mar 20
BOSS ENERGY LTD (BOE.AU) saw its shares plummet 5.26% during intraday trading on Friday, following negative analyst commentary on the company's latest mineral resource update.
The decline comes after Canaccord Genuity lowered its price target on the uranium miner to A$2.55 from A$2.80. The broker cited the company's update on its Gould's Dam and Jason's deposits, which showed an increase in total resources but revealed lower grades of mineralization.
In its analysis, Canaccord Genuity noted that "these satellite deposits, like East Kalkaroo, lack continuous high-grade mineralization," maintaining a speculative buy rating on the stock despite the reduced target.
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