Denison Mines Corp [AMEX: DNN] loss -6.22% on the last trading session, reaching $1.81 price per share at the time. The company report on January 25, 2024 at 7:00 AM that Grounded Lithium Closes Earn-in Agreement with Denison Mines.
(TSXV: GRD) (OTCQB: GRDAF) – Grounded Lithium Corp. (“GLC” or the “Company”) is pleased to announce that we have obtained consents, from shareholders holding over 50% of the outstanding shares of the Company, in respect of the previously announced definitive agreement (the “Agreement”) with Denison Mines Corp (TSX: DML) (NYSE American: DNN) (“Denison”). The Company has also received final approval from the TSX Venture Exchange to close the transaction.
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With all approvals obtained, the earn-in option granted by the Agreement is effective as of January 24, 2024. As communicated in the January 16, 2024 press release, the 5% gross over riding royalty (“GORR”) sold to Denison is now reduced to 2%. The GORR will be eliminated in its entirety on the earlier of: (i) the date that Denison completes the first earn-in option under the Agreement; and (ii) the date that is fifteen (15) months after date of the Agreement unless Denison elects to forfeit its rights to exercise an earn-in option prior thereto.
If compared to the average trading volume of 12.58M shares, DNN reached a trading volume of 17063936 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Denison Mines Corp [DNN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DNN shares is $2.87 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DNN stock is a recommendation set at 1.57. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 209.97. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 0.07.
Trading performance analysis for DNN stock
Denison Mines Corp [DNN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.84. With this latest performance, DNN shares dropped by -7.65% in over the last four-week period, additionally plugging by 32.12% over the last 6 months – not to mention a rise of 36.09% 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 38.42, with the RSI for the last a single of trading hit 29.33, and the three-weeks RSI is set at 43.64 for Denison Mines Corp [DNN]. The present Moving Average for the last 50 days of trading for this stock 1.8768, while it was recorded at 1.9200 for the last single week of trading, and 1.5209 for the last 200 days.
Denison Mines Corp [DNN]: A deeper dive into fundamental analysis
Denison Mines Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.29.
Denison Mines Corp [DNN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Denison Mines Corp posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DNN.
An analysis of Institutional ownership at Denison Mines Corp [DNN]
The top three institutional holders of DNN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DNN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DNN stock with ownership which is approximately 5.8325%.
