Denison Mines (TSE:DML) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Denison Mines Corp. reached a new 1-year high after National Bankshares raised their price target from C$3.90 to C$4.50, maintaining an outperform rating.
• The company has received positive ratings from several analysts, with one giving a Strong Buy rating and five others issuing a Buy rating, contributing to an average target price of C$3.79.
• Denison Mines is focused on uranium exploration, holding a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the Athabasca Basin region of Saskatchewan, Canada.

Shares of Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN reached a new 52-week high on Thursday after National Bankshares raised their price target on the stock from C$3.90 to C$4.50. National Bankshares currently has an outperform rating on the stock. Denison Mines traded as high as C$4.08 and last traded at C$3.81, with a volume of 4112638 shares trading hands. The stock had previously closed at C$3.91.

Several other equities research analysts also recently weighed in on the company. TD Securities increased 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. Desjardins upgraded Denison Mines to a "moderate buy" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$3.79.

Denison Mines Price Performance

The firm has a market cap of C$3.42 billion, a PE ratio of -42.33, a PEG ratio of 1.42 and a beta of 1.66. The business has a 50-day moving average price of C$3.11 and a two-hundred day moving average price of C$2.47.

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.

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