Denison Mines (TSE:DML) Trading Up 13.9% – Time to Buy?

Denison Mines Corp. (TSE:DML) (NYSE:DNN)’s share price traded 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 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 Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Desjardins raised shares of Denison Mines to a “moderate buy” rating in a report on Thursday, April 3rd. Scotiabank dropped their price objective on shares of 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. National Bankshares dropped their price objective on shares of 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, Raymond James dropped their price objective on shares of 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. Five analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Denison Mines presently has a consensus rating of “Buy” and an average price target of C$3.49.

Denison Mines Stock Up 11.7%

The business’s 50 day moving average is C$2.05 and its two-hundred day moving average is C$2.35. The firm has a market cap of C$2.25 billion, a P/E ratio of -82.88, a P/E/G 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.