Denison Mines (TSE:DML) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Denison Mines shares crossed above their 200-day moving average (200‑day MA C$4.59), trading as high as C$5.20 and last at C$5.11 on a volume of about 2.42 million shares.
• Research firms including TD Securities and National Bank Financial raised targets to C$6.50, leaving the stock with an average analyst rating of Buy and a consensus C$6.50 target.
• Denison is a uranium explorer with a 95% interest in the flagship Wheeler River project and a market cap of C$4.62 billion, but carries a high debt-to-equity ratio (166.8) and a negative P/E (-21.29).

Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.59 and traded as high as C$5.20. Denison Mines shares last traded at C$5.11, with a volume of 2,422,500 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DML. TD Securities increased their price objective on shares of Denison Mines from C$6.00 to C$6.50 and gave the stock a "buy" rating in a report on Thursday, March 12th. National Bank Financial boosted their target price on shares of Denison Mines from C$6.00 to C$6.50 and gave the company an "outperform" rating in a research note on Friday, April 17th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$6.50.

Denison Mines Price Performance

The company has a debt-to-equity ratio of 166.80, a quick ratio of 3.12 and a current ratio of 10.75. The firm has a market capitalization of C$4.62 billion, a P/E ratio of -21.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The business has a fifty day moving average of C$5.20 and a 200-day moving average of C$4.59.

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. The company is also engaged in mine decommissioning and environmental services through its Closed Mines group, which manages its Elliot Lake reclamation projects and provides third-party post-closure mine care and maintenance services.

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