Denison Mines Corp. [AMEX: DNN] stock went on an upward path that rose over 7.13% on Thursday, amounting to a one-week price increase of more than 0.96%. The company report on July 12, 2022 that Denison Receives Approval to Construct and Operate Phoenix Feasibility Field Test Facility from Saskatchewan Minister of Environment.
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Denison Mines Corp. (“Denison” or the “Company”) (TSX: DML) (NYSE: DNN) is pleased to announce that it has received approval from the Province of Saskatchewan to prepare, construct, and operate the facilities required to carry out the In-Situ Recovery (“ISR”) Feasibility Field Test (“FFT”) planned for the Phoenix deposit at the Company’s 95% owned Wheeler River project. View PDF version.
The approval was granted by the Saskatchewan Minister of Environment (the “Minister”) and authorizes Denison to operate “pollutant control facilities” – which is typical for mining operations and allows for the management of material recovered from mineral extraction through to waste water treatment, discharge, and storage (as applicable). The approval followed the completion of a process involving the review of and consultation on the Company’s permit application and supporting materials related to the FFT.
Over the last 12 months, DNN stock dropped by -4.55%. The average equity rating for DNN stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $846.19 million, with 814.79 million shares outstanding and 805.18 million shares in the current float. Compared to the average trading volume of 8.12M shares, DNN stock reached a trading volume of 6304835 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Denison Mines Corp. [DNN]:
TD Securities have made an estimate for Denison Mines Corp. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on May 27, 2022. The new note on the price target was released on July 18, 2017, representing the official price target for Denison Mines Corp. stock. On April 15, 2013, analysts decreased their price target for DNN shares from 1.80 to 1.50.
The Average True Range (ATR) for Denison Mines Corp. is set at 0.08, with the Price to Sales ratio for DNN stock in the period of the last 12 months amounting to 50.67. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 0.08.
DNN Stock Performance Analysis:
Denison Mines Corp. [DNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.96. With this latest performance, DNN shares dropped by -3.67% in over the last four-week period, additionally sinking by -27.59% over the last 6 months – not to mention a drop of -4.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DNN stock in for the last two-week period is set at 49.00, with the RSI for the last a single of trading hit 52.84, and the three-weeks RSI is set at 47.09 for Denison Mines Corp. [DNN]. The present Moving Average for the last 50 days of trading for this stock 1.1143, while it was recorded at 1.0114 for the last single week of trading, and 1.4260 for the last 200 days.
Insight into Denison Mines Corp. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Denison Mines Corp. [DNN] shares currently have an operating margin of -116.74 and a Gross Margin at -71.78. Denison Mines Corp.’s Net Margin is presently recorded at +94.89.
Return on Equity for this stock inclined to 6.08, with Return on Assets sitting at 4.16.
Denison Mines Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.20.