Denison Mines (TSE:DML) Stock Price Up 13.9% – Here’s Why

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

Analysts Set New Price Targets

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

Denison Mines Trading Up 11.7%

The business’s 50-day simple moving average is C$2.05 and its two-hundred day simple moving average is C$2.35. The company has a market capitalization of C$2.25 billion, a PE ratio of -82.88, a PEG ratio of 1.42 and a beta of 1.89.

Denison Mines Company Profile

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.