Denison Mines (TSE:DML) Trading 12.1% Higher – Here’s Why

Shares of Denison Mines Corp. (TSE:DML) (NYSE:DNN) traded up 12.1% during trading on Monday . The stock traded as high as C$2.50 and last traded at C$2.50. 168,005 shares traded hands during trading, a decline of 93% from the average session volume of 2,254,243 shares. The stock had previously closed at C$2.23.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DML shares. National Bankshares dropped 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. Raymond James dropped their price objective on Denison Mines from C$3.90 to C$3.70 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Desjardins upgraded shares of Denison Mines to a “moderate buy” rating in a research report on Thursday, April 3rd. Finally, Scotiabank reduced 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. Five research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Denison Mines presently has a consensus rating of “Buy” and a consensus price target of C$3.49.

Denison Mines Trading Up 13.5%

The firm’s 50-day simple moving average is C$2.05 and its 200-day simple moving average is C$2.35. The company has a market capitalization of C$2.29 billion, a PE ratio of -84.21, 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.