Boss Energy (ASX:BOE) has been the beneficiary of improved mood around the stock on Wednesday after its quarterly results confirmed the company’s uranium production ramp-up is coming along as planned.
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That matters for the stock because it was earlier this year when CEO Duncan Craib rattled shareholders by leaving the company on short notice, days before the company revealed previously issued production guidance wasn’t going to be met.
(Indeed, Craib dodged the media at Diggers & Dealers this year, if you want evidence the man was facing a potentially hostile reception from some.)
Still, Wednesday’s intraday gains for BOE will not be enough to sate any long-term holders who were caught by surprise when the stock plummeted earlier this year (a fate not too dissimilar to that of Peninsula Energy).
BOE’s YTD returns remain down nearly -25%; currently at $1.85/sh (a/a 1.30pm AEDT Wednesday 29 October), the stock remains where it sat in July of this year: Nearly $4.70/sh.
Still, shareholders will likely be happy to see green on Wednesday. Earlier this year, BOE made the perhaps blunt-nail move to tell the market it was conducting a “strategic review” to address production concerns.
BOE last traded at $1.85/sh today.
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