Denison Mines (TSE:DML) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Denison Mines Corp. (TSE:DML) (NYSE:DNN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.68 and traded as high as C$2.76. Denison Mines shares last traded at C$2.72, with a volume of 2,420,382 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on DML. Raymond James increased their price objective on Denison Mines from C$3.50 to C$3.90 in a report on Friday, November 22nd. BMO Capital Markets raised 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. Scotiabank lifted their target price on shares of Denison Mines from C$4.00 to C$4.50 in a research note on Monday, November 25th. National Bankshares upped their price target on Denison Mines from C$3.50 to C$4.15 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, CIBC set a C$3.25 price objective on shares of Denison Mines and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$3.76.

Denison Mines Stock Performance

The company has a quick ratio of 3.12, a current ratio of 6.94 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of C$2.96 and a 200 day moving average of C$2.68. The stock has a market capitalization of C$2.43 billion, a P/E ratio of 45.33, a PEG ratio of 1.42 and a beta of 1.89.

Insider Activity

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

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.