TD Securities slashes price target on Denison Mines Corp [DNN] – find out why.

Denison Mines Corp [AMEX: DNN] traded at a high on Friday, posting a 5.03 gain after which it closed the day’ session at $1.88. 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, SEDAR+ (at and EDGAR (at 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 results of the trading session contributed to over 18506813 shares changing hands. Over the past one week, the price volatility of Denison Mines Corp stands at 5.08% while the volatility over the past one month is 5.46%.

The market cap for DNN stock reached $1.68 billion, with 890.97 million shares outstanding and 877.79 million shares in the current float. Compared to the average trading volume of 14.22M shares, DNN reached a trading volume of 18506813 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $2.95 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 1.50. 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 218.67. The Price to Book ratio for the last quarter was 4.05, with the Price to Cash per share for the same quarter was set at 0.07.

How has DNN stock performed recently?

Denison Mines Corp [DNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, DNN shares dropped by -3.59% in over the last four-week period, additionally plugging by 18.99% over the last 6 months – not to mention a rise of 84.31% 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 51.33, with the RSI for the last a single of trading hit 53.79, and the three-weeks RSI is set at 50.74 for Denison Mines Corp [DNN]. The present Moving Average for the last 50 days of trading for this stock 1.9000, while it was recorded at 1.8200 for the last single week of trading, and 1.5874 for the last 200 days.

Denison Mines Corp [DNN]: Deeper insight into the fundamentals

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.

Earnings analysis for Denison Mines Corp [DNN]

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.

Insider trade positions for 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%.