Denison Mines (TSE:DML) Shares Up 12.3% – Time to Buy?

Denison Mines Corp. (TSE:DML) (NYSE:DNN)’s share price was up 12.3% during trading on Thursday . The company traded as high as C$1.83 and last traded at C$1.83. Approximately 3,607,608 shares were traded during trading, an increase of 63% from the average daily volume of 2,218,163 shares. The stock had previously closed at C$1.63.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DML. Scotiabank reduced their target price on shares of Denison Mines from C$4.75 to C$3.75 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Desjardins upgraded shares of Denison Mines to a “moderate buy” rating in a research report on Thursday, April 3rd. National Bankshares cut their price target on Denison Mines from C$4.15 to C$3.75 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, Raymond James decreased their price objective on Denison Mines from C$3.90 to C$3.70 and set an “outperform” rating on the stock in a report 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’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$3.49.

Denison Mines Stock Performance

The company has a market cap of C$1.57 billion, a price-to-earnings ratio of -57.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.89. The stock’s fifty day simple moving average is C$2.12 and its two-hundred day simple moving average is C$2.61.

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.