Denison Mines (TSE:DML) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Denison Mines Corp. shares have recently crossed above their 200-day moving average, indicating potential upward momentum, with shares trading as high as C$3.27 before settling at C$3.16.
• Analysts have a generally positive outlook, with a consensus rating of "Buy" and an average target price of C$3.53, with TD Securities upgrading their target from C$3.50 to C$3.75.
• Denison Mines, focused on uranium exploration in northern Saskatchewan, has a market capitalization of C$2.83 billion and is recognized for its flagship Wheeler River Uranium Project, the largest undeveloped uranium project in its region.

Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.33 and traded as high as C$3.27. Denison Mines shares last traded at C$3.16, with a volume of 2,253,328 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DML shares. TD Securities raised their target price on Denison Mines from C$3.50 to C$3.75 and gave the stock a "buy" rating in a research note on Monday, August 11th. Desjardins raised Denison Mines to a "moderate buy" rating in a research note on Monday, August 18th. Finally, National Bankshares set a C$3.75 target price on Denison Mines and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$3.53.

Denison Mines Trading Up 2.1%

The business has a fifty day moving average of C$2.86 and a 200 day moving average of C$2.36. The company has a market capitalization of C$3.03 billion, a PE ratio of -37.56, a PEG 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.