Denison Mines Corp [AMEX: DNN] loss -6.12% or -0.12 points to close at $1.84 with a heavy trading volume of 17444151 shares. The company report on February 29, 2024 at 8:11 PM that Denison Reports Impressive Financial and Operational Results for 2023 Including Significant Increase in Phoenix ISR Project Economics and a $134 Million Gain on Physical Uranium Holdings.
Denison Mines Corp. (‘Denison’ or the ‘Company’) (TSX: DML) (NYSE American: DNN) today filed its Audited Consolidated Financial Statements and Management’s Discussion & Analysis (‘MD&A’) for the year ended December 31, 2023. Both documents are or will be available on the Company’s website at www.denisonmines.com, SEDAR+ (at www.sedarplus.ca) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF version.
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The Company reported earnings per share (‘EPS’) from continuing operations of $0.11 for the year ended December 31, 2023, representing a 450% increase from the 2022 EPS of $0.02, driven by the recognition of a significantly larger gain on the Company’s physical uranium holdings offset by operating expenses primarily related to the Company’s advancement of its flagship Wheeler River Project.
The daily chart for DNN points out that the company has recorded 30.50% gains over the past six months.
If we look at the average trading volume of 13.97M shares, DNN reached to a volume of 17444151 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 $3.02 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 0.10, with the Price to Sales ratio for DNN stock in the period of the last 12 months amounting to 214.02. The Price to Book ratio for the last quarter was 3.97, 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 -4.17. With this latest performance, DNN shares dropped by -11.96% in over the last four-week period, additionally plugging by 30.50% over the last 6 months – not to mention a rise of 58.62% 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 47.51, with the RSI for the last a single of trading hit 47.39, and the three-weeks RSI is set at 48.23 for Denison Mines Corp [DNN]. The present Moving Average for the last 50 days of trading for this stock 1.8900, while it was recorded at 1.8540 for the last single week of trading, and 1.5686 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%.
