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

Shares of Denison Mines Corp. (TSE:DML) (NYSE:DNN) were up 13.9% during mid-day trading on Monday . The stock traded as high as C$2.57 and last traded at C$2.54. Approximately 4,683,082 shares traded hands 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. National Bankshares lowered 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. 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 shares of Denison Mines to a “moderate buy” rating in a research report on Thursday, April 3rd. Finally, Raymond James decreased their price target on shares of Denison Mines from C$3.90 to C$3.70 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Five research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$3.49.

Denison Mines Stock Up 11.7%

The firm has a market cap of C$2.25 billion, a price-to-earnings ratio of -82.88, a P/E/G ratio of 1.42 and a beta of 1.89. The stock has a 50 day moving average of C$2.05 and a 200 day moving average of C$2.35.

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.