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Denison Mines Corp. (DNN): At $1.03, It’s Worth Your Attention

Denison Mines Corp. (AMEX:DNN) price on Friday, March 17, rose 1.98% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.03.

A look at the stock’s price movement, the close in the last trading session was $1.01, moving within a range at $0.96 and $1.03. The beta value (5-Year monthly) was 1.95 while the PE ratio in trailing twelve months stood at 68.67. Turning to its 52-week performance, $1.83 and $0.91 were the 52-week high and 52-week low respectively. Overall, DNN moved -25.90% over the past month.

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Denison Mines Corp.’s market cap currently stands at around $900.62 million, with investors looking forward to this quarter’s earnings report slated for May 02, 2023 – May 08, 2023. Analysts project the company’s earnings per share (EPS) to be -$0.01, which has seen fiscal year 2022 EPS growth forecast to increase to $0.02 and about $0 for fiscal year 2023.

Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $12.35 million, representing a -17.70% decline on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that DNN is a 100% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

DNN’s current price about -13.41% and -19.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 31.20, while 7-day volatility ratio is 7.24% and 5.52% in the 30-day chart. Further, Denison Mines Corp. (DNN) has a beta value of 1.87, and an average true range (ATR) of 0.07.

In the market, a comparison of Denison Mines Corp. (DNN) and its peers suggest the former has performed considerably stronger. Data shows DNN’s intraday price has changed 1.98% in last session and -29.93% over the past year. Comparatively, Ur-Energy Inc. (URG) has moved -1.89% on the day and only -40.43% in the past 12 months. Looking at another peer, we see that Cameco Corporation (CCJ) price has gained 1.34% on the day. However, the stock is 0.56% off its price a year ago. Moreover, Uranium Energy Corp. (UEC) is also up 2.17% in trading on the day while keeping a a downtrend of -16.50% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Denison Mines Corp. (AMEX:DNN), historical trading data shows that trading volumes averaged 7.4 million over the past 10 days and 5.43 million over the past 3 months. The company’s latest data on shares outstanding shows there are 823.61 million shares.

The 12.00% of Denison Mines Corp.’s shares are in the hands of company insiders while institutional holders own 7.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 40.76 million on Jan 12, 2023, giving us a short ratio of 8.74. The data shows that as of Jan 12, 2023 short interest in Denison Mines Corp. (DNN) stood at 4.96% of shares outstanding, with shares short falling to 42.39 million registered in Dec 14, 2022. Current price change has pushed the stock -10.43% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DNN stock continues to rise going into the next quarter.

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