Denison Mines (TSE:DML) Reaches New 1-Year High - Still a Buy?

Key Points

• Denison Mines shares reached a new 52-week high, trading as high as C$3.45, with a significant volume of 2,395,905 shares exchanged.
• Analysts have set a price target of C$3.75 with ratings ranging from "outperform" to "moderate buy," indicating optimism about the company's prospects.
• The company focuses on uranium exploration and holds a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the Athabasca Basin region.

Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN reached a new 52-week high during trading on Thursday . The company traded as high as C$3.45 and last traded at C$3.42, with a volume of 2395905 shares. The stock had previously closed at C$3.40.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. National Bankshares set a C$3.75 price target on Denison Mines and gave the stock an "outperform" rating in a report on Tuesday, June 24th. TD Securities boosted their price target on Denison Mines from C$3.50 to C$3.75 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Desjardins raised Denison Mines to a "moderate buy" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat.com, Denison Mines has a consensus rating of "Buy" and a consensus target price of C$3.53.

Denison Mines Stock Performance

The company has a fifty day moving average of C$2.96 and a two-hundred day moving average of C$2.40. The company has a market cap of C$3.10 billion, a PE ratio of -38.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.66.

About Denison Mines

Denison Mines Corp is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan.