Denison Mines (TSE:DML) Stock Price Up 13.9% - Here's Why

Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN shot up 13.9% on Monday . The company traded as high as C$2.57 and last traded at C$2.54. 4,683,082 shares were traded during mid-day trading, an increase of 106% from the average session volume of 2,277,454 shares. The stock had previously closed at C$2.23.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DML. Raymond James reduced their price objective on Denison Mines from C$3.90 to C$3.70 and set an "outperform" rating for the company in a research note on Monday, March 17th. Desjardins upgraded Denison Mines to a "moderate buy" rating in a research note on Thursday, April 3rd. National Bankshares reduced their price objective on Denison Mines from C$4.15 to C$3.75 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, Scotiabank reduced their price objective on Denison Mines from C$4.75 to C$3.75 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$3.49.

Denison Mines Price Performance

The company has a 50 day moving average price of C$2.07 and a 200 day moving average price of C$2.34. The firm has a market cap of C$2.28 billion, a PE ratio of -83.88, a PEG ratio of 1.42 and a beta of 1.89.

About Denison Mines

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.