Jefferies, the global financial services company, has reportedly reduced its price target for Australia’s uranium miner, Deep Yellow (ASX:DYL), from A$1.50 per share to A$1.40.

The adjustment incorporates a A$220 million ($145.31 million) placement into the valuation.

Jefferies outlined that Deep Yellow is pursuing a bold strategic funding approach for its Tumas project in Namibia and maintains a ‘hold’ rating on the uranium miner.

With an 11.5% increase year to date, Deep Yellow’s stock performance remains noteworthy according to the financial services company.

Deep Yellow is an uranium miner primarily based in Australia.