Denison Mines (TSE:DML) Sets New 52-Week High – Still a Buy?

Shares of Denison Mines Corp. (TSE:DML) (NYSE:DNN) hit a new 52-week high on Wednesday . The stock traded as high as C$6.04 and last traded at C$5.89, with a volume of 927161 shares traded. The stock had previously closed at C$5.89.

Analyst Ratings Changes

Separately, National Bank Financial upped their price target on shares of Denison Mines from C$4.85 to C$6.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Denison Mines has an average rating of “Buy” and a consensus target price of C$4.30.

Denison Mines Stock Performance

The firm has a market capitalization of C$5.26 billion, a PE ratio of -26.64, a P/E/G ratio of 1.42 and a beta of 1.83. The firm has a fifty day moving average of C$4.79 and a 200 day moving average of C$4.01.

Insider Activity

In related news, Director David Daniel Cates sold 360,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$5.82, for a total transaction of C$2,095,200.00. Following the completion of the sale, the director directly owned 1,760,000 shares in the company, valued at approximately C$10,243,200. This trade represents a 16.98% decrease in their ownership of the stock. 0.31% of the stock is owned by company insiders.

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.