Denison Mines (TSE:DML) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Denison Mines Corp. (TSE:DML) (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$4.36 and traded as high as C$4.84. Denison Mines shares last traded at C$4.75, with a volume of 2,469,119 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. National Bank Financial upped their price target on Denison Mines from C$4.85 to C$6.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. TD Securities lifted their price objective on Denison Mines from C$6.00 to C$6.50 and gave the company a “buy” rating in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$6.25.

Denison Mines Trading Up 2.4%

The company has a debt-to-equity ratio of 166.80, a quick ratio of 3.12 and a current ratio of 10.75. The company’s 50-day moving average price is C$5.28 and its 200-day moving average price is C$4.36. The firm has a market capitalization of C$4.29 billion, a PE ratio of -19.79, a PEG ratio of 1.42 and a beta of 1.18.

Insider Activity

In other news, Director David Daniel Cates sold 360,000 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$5.82, for a total transaction of C$2,095,200.00. Following the completion of the transaction, the director directly owned 1,760,000 shares of the company’s stock, valued at approximately C$10,243,200. This represents a 16.98% decrease in their position. Corporate insiders own 0.31% of the company’s stock.

About Denison Mines

Denison Mines Corp is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. The company is also engaged in mine decommissioning and environmental services through its Closed Mines group, which manages its Elliot Lake reclamation projects and provides third-party post-closure mine care and maintenance services.