Denison Mines (TSE:DML) Stock Price Passes Above 200 Day Moving Average - Here's Why

Denison Mines Corp. (TSE:DML - Get Free Report) NYSE: DNN's share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.67 and traded as high as C$2.96. Denison Mines shares last traded at C$2.88, with a volume of 1,914,895 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. National Bankshares boosted their target price on shares of Denison Mines from C$3.50 to C$4.15 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Cibc World Mkts raised Denison Mines to a "strong-buy" rating in a report on Thursday, September 26th. National Bank Financial raised shares of Denison Mines to a "strong-buy" rating in a report on Tuesday, September 3rd. BMO Capital Markets upgraded shares of Denison Mines from a "market perform" rating to an "outperform" rating and set a C$3.00 target price for the company in a research note on Wednesday, September 25th. 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 assigned a strong buy rating to the company. According to MarketBeat, Denison Mines currently has a consensus rating of "Buy" and an average price target of C$3.57.

Denison Mines Price Performance

The business's 50 day moving average is C$2.58 and its two-hundred day moving average is C$2.67. The firm has a market capitalization of C$2.57 billion, a PE ratio of 48.00, a P/E/G ratio of 1.42 and a beta of 1.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.94 and a quick ratio of 3.12.

Denison Mines (TSE:DML - Get Free Report) NYSE: DNN last posted its quarterly earnings results on Thursday, August 8th. The company reported C($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of C($0.02). Denison Mines had a return on equity of 10.60% and a net margin of 1,412.07%. The business had revenue of C$1.33 million for the quarter, compared to analyst estimates of C$1.10 million. As a group, research analysts anticipate that Denison Mines Corp. will post -0.01 EPS for the current year.

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.