Deep Yellow (OTCMKTS:DYLLF) Stock Jumps 11.8% – Here’s Why

Deep Yellow Limited (OTCMKTS:DYLLF) was up 11.8% on Tuesday. The stock traded as high as $0.56 and last traded at $0.56. 8,515 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 76,606 shares. The stock had previously closed at $0.5010.

Analysts Set New Price Targets

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

Deep Yellow Trading Up 11.8%

The business’s fifty day simple moving average is $0.91 and its 200 day simple moving average is $1.19.

About Deep Yellow

Deep Yellow Limited is an Australian uranium exploration and development company listed on the Australian Securities Exchange and traded over the counter in the United States under the symbol DYLLF. The company focuses on advancing uranium projects rather than operating a diversified mining or energy-services business.

Deep Yellow’s principal assets include the Tumas uranium project in Namibia and the Mulga Rock uranium project in Western Australia. Tumas is located in the Erongo uranium province, an established mining region, while Mulga Rock is situated in Western Australia’s Great Victoria Desert.