Raymond James Forecasts Strong Price Appreciation for Denison Mines (TSE:DML) Stock

Denison Mines (TSE:DML) (NYSE:DNN) had its target price increased by equities research analysts at Raymond James from C$3.50 to C$3.90 in a research report issued on Friday,BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 18.90% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. CIBC set a C$3.25 price target on shares of Denison Mines and gave the stock an “outperform” rating in a report on Thursday, September 26th. National Bankshares raised their price target on Denison Mines from C$3.50 to C$4.15 and gave the company an “outperform” rating in a research report on Thursday, October 24th. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating and set a C$3.00 price target for the company in a research note on Wednesday, September 25th. Finally, Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$3.63.

Denison Mines Price Performance

DML stock traded down C$0.06 during mid-day trading on Friday, reaching C$3.28. 983,477 shares of the company traded hands, compared to its average volume of 1,972,743. The company has a fifty day moving average price of C$2.76 and a 200-day moving average price of C$2.69. Denison Mines has a 52-week low of C$1.91 and a 52-week high of C$3.37. The company has a market capitalization of C$2.93 billion, a P/E ratio of 54.67, a P/E/G ratio of 1.42 and a beta of 1.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.94 and a quick ratio of 3.12.

Insider Buying and Selling at Denison Mines

In other news, Senior Officer Andrew Alan Yackulic sold 45,500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$2.84, for a total transaction of C$129,124.45. Insiders own 0.31% of the company’s stock.

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.