Deep Yellow (OTCMKTS:DYLLF) Stock Price Down 6.7% – Here’s Why

Deep Yellow Limited (OTCMKTS:DYLLF) traded down 6.7% during mid-day trading on Thursday. The stock traded as low as $0.5750 and last traded at $0.5821. 160,964 shares traded hands during mid-day trading, an increase of 119% from the average daily volume of 73,450 shares. The stock had previously closed at $0.6240.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada initiated coverage on shares of Deep Yellow in a research note on Thursday, September 3rd. They set an “outperform” rating and a $2.05 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Deep Yellow presently has a consensus rating of “Buy” and an average price target of $1.92.

Deep Yellow Price Performance

The stock has a 50 day moving average price of $0.99 and a 200-day moving average price of $1.08.

About Deep Yellow

Deep Yellow Limited is an Australian uranium exploration and development company focused on advancing projects in Namibia and Australia. The company’s activities include mineral exploration, resource evaluation, feasibility studies, project development and the potential future production of uranium oxide for the nuclear energy industry.

Deep Yellow’s primary Namibian asset is the Tumas uranium project, located in the established uranium-producing region of the Erongo district. The company is working to develop Tumas as a conventional uranium mining and processing operation.