Paladin Energy (PDN) Worst Performer

Submitted by Craig Strzelecki on 17 November, 2007 - 12:56

Paladin Energy (PDN) was the overall worst performing stock taking in 18.33 percent decrease. Among the worst performing stocks for the week 46 of 2007 of the Australian sharemarket were a mixture of energy, petroleum, mining and oil exploration: Paladin Energy (PDN), Woodside Petroleum (WPL), Lihir Gold (LHG), AED Oil (AED). These worst performing stocks for week 46 of 2007 recorded losses above 10.77 percent by the end of the trading week.

Paladin Energy, Australia’s second biggest sole uranium mining company behind Energy Resources, which is majority owned by mining giant Rio Tinto, was the worst performer for the ASX 100 index seeing 18.33 percent fall or $1.61 and closing at $7.17. Paladin Energy was followed by Woodside Petroleum, one of Australia’s top ten companies by market capitalisation, and the nation’s largest publicly-traded oil and gas exploration and production company, losing $8.47, decreasing 15.3 percent and closing at $46.87. Lihir Gold, the owner and developer of the Lihir Island, Papua New Guinea open pit mine and processing facility gold operation, was at next in the line closing at $3.81 (-$0.46, -10.77%). On the ASX 200 index, Paladin Energy was at the first position of the worst performing stocks list. Paladin Energy was followed by AED Oil, which was established for the purpose of acquiring, developing and commercialising specified oil fields and undertaking oil exploration, with a primary focus on prospects located either in Australia or within Australian territorial waters, losing $1.37, decreasing 15.53 percent and closing at $7.45. Woodside Petroleum was the next in the line at the third position. Lihir Gold was at the fourth position and it was followed by Murchison Metals (MMX), a 50% shareholder in Crosslands Resources Ltd ('Crosslands') which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia, closing at $4.31 (-$0.51, -10.58%).