Deep Yellow (OTCMKTS:DYLLF) Shares Gap Up – Time to Buy?

Deep Yellow Limited (OTCMKTS:DYLLF) gapped up prior to trading on Thursday . The stock had previously closed at $1.10, but opened at $1.19. Deep Yellow shares last traded at $1.19, with a volume of 6,000 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DYLLF shares. Royal Bank Of Canada began coverage on Deep Yellow in a research report on Thursday. They issued an “outperform” rating and a $2.05 target price for the company. Jefferies Financial Group upgraded shares of Deep Yellow from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $1.92.

Deep Yellow Stock Performance

The stock has a fifty day simple moving average of $1.01 and a 200-day simple moving average of $1.21.

About Deep Yellow

Deep Yellow Limited is an Australia-based mineral exploration and development company focused on advancing uranium projects in Africa. Established in 1990 and headquartered in Perth, the company’s principal goal is to define and develop high-quality uranium resources to support global low-carbon energy solutions. Deep Yellow pursues a strategy of systematic exploration, resource delineation and feasibility studies aimed at delivering near-term production opportunities.

The company’s flagship assets are located in Namibia’s well-known uranium provinces, including the Tumas and Omahola project areas, where extensive drilling programs have identified significant mineralisation.