Denison Mines (TSE:DML) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Denison Mines Corp. (TSE:DML) (NYSE:DNN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.65 and traded as high as C$3.08. Denison Mines shares last traded at C$2.99, with a volume of 5,494,356 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Scotiabank set a C$3.75 price objective on shares of Denison Mines and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. CIBC set a C$3.25 target price on shares of Denison Mines and gave the company an “outperform” rating in a report on Thursday, September 26th. Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. 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, the stock has an average rating of “Buy” and a consensus price target of C$3.46.

Denison Mines Trading Up 6.5 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 6.94 and a quick ratio of 3.12. The business has a 50-day moving average price of C$2.34 and a two-hundred day moving average price of C$2.66. The firm has a market cap of C$2.92 billion, a PE ratio of 54.50, a PEG ratio of 1.42 and a beta of 1.89.

Denison Mines (TSE:DML) (NYSE:DNN) last released its quarterly earnings results on Thursday, August 8th. The company reported C($0.02) EPS for the quarter, meeting the consensus estimate of C($0.02). Denison Mines had a net margin of 1,412.07% and a return on equity of 10.60%. The business had revenue of C$1.33 million for the quarter, compared to analyst estimates of C$1.10 million. Analysts forecast that Denison Mines Corp. will post -0.01 EPS for the current year.

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.