Denison Mines (TSE:DML) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Denison Mines Corp. shares have crossed above their 200-day moving average, indicating a potential upward trend, with the stock trading at C$2.97 after reaching a high of C$3.06.
• Analysts are optimistic about Denison Mines, with several upgrades and an average price target of C$3.53, reflecting a consensus rating of "Buy" for the stock.
• The company, focused on uranium exploration in Canada, has a significant interest in the Wheeler River Uranium Project, which is noted as the largest undeveloped uranium project in the region.

Shares of Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.31 and traded as high as C$3.06. Denison Mines shares last traded at C$2.97, with a volume of 3,082,964 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. TD Securities increased their price target on shares of 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 upgraded Denison Mines to a "moderate buy" rating in a report on Monday, August 18th. Finally, National Bankshares set a C$3.75 price objective on Denison Mines and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, Denison Mines has a consensus rating of "Buy" and an average price target of C$3.53.

Denison Mines Stock Down 2.6%

The business has a fifty day simple moving average of C$2.73 and a 200-day simple moving average of C$2.31. The firm has a market cap of C$2.68 billion, a P/E ratio of -98.86, a P/E/G ratio of 1.42 and a beta of 1.89.

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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