Denison Mines Corp. (AMEX:DNN) shares, rose in value on Friday, May 26, with the stock price down by -1.86% to the previous day’s close as strong demand from buyers drove the stock to $1.05.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.07, falling within a range of $1.06 and $1.09. The value of beta (5-year monthly) is 1.97. Referring to stock’s 52-week performance, its high was $1.53, and the low was $0.91. On the whole, DNN has fluctuated by -0.93% over the past month.
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With the market capitalization of Denison Mines Corp. currently standing at about $922.40 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 02, 2023 – Aug 07, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.01, which is expected to increase to -$0.01 for fiscal year -$0.02 and then to about -$0.02 by fiscal year 2024.
Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $10.08 million, representing a decrease of -20.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DNN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DNN currently trading nearly -3.39% and -0.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.39, while the 7-day volatility ratio is showing 4.86% which for the 30-day chart, stands at 4.54%. Furthermore, Denison Mines Corp. (DNN)’s beta value is 1.83, and its average true range (ATR) is 0.05.
A comparison of Denison Mines Corp. (DNN) with its peers suggests the former has fared considerably weaker in the market. DNN showed an intraday change of -1.86% in today’s session so far, and over the past year, it shrunk by -8.69%%. In comparison, Ur-Energy Inc. (URG) has moved lower at -0.21% today and is down -22.20% over the past 12 months. On the other hand, the price of Cameco Corporation (CCJ) has fallen -1.37% today. The stock, however, is off 13.66% from where it was a year ago. Additionally, there is a loss of -1.77% for Uranium Energy Corp. (UEC) in recent trading while the stock has seen an overall depriciation of -27.56%% over the past year. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.10%. Meanwhile, the Dow Jones Industrial Improved by 0.97%.
Data on historical trading for Denison Mines Corp. (AMEX:DNN) indicates that the trading volumes over the past 10 days have averaged 2.28 million and over the past 3 months, they’ve averaged 3.93 million. According to company’s latest data on outstanding shares, there are 832.83 million shares outstanding.
Nearly 12.00% of Denison Mines Corp.’s shares belong to company insiders and institutional investors own 7.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 36.11 million shares as on May 14, 2023, resulting in a short ratio of 12.55. According to the data, the short interest in Denison Mines Corp. (DNN) stood at 4.32% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 36.21 million. The stock has fallen by -8.69% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DNN stock heading into the next quarter.
