What Analysts Think About Denison Mines Corp (AMEX: DNN)’s Potential Raise

The trading price of Denison Mines Corp (AMEX:DNN) closed higher on Tuesday, April 02, closing at $2.12, 2.42% higher than its previous close.

The company’s P/E ratio in the trailing 12-month period was 48.18, while its 5Y monthly beta was 1.90. In examining the 52-week price action we see that the stock hit a 52-week high of $2.15 and a 52-week low of $0.98. Over the past month, the stock has gained 10.42% in value.

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Denison Mines Corp, whose market valuation is $1.89 billion at the time of this writing, is expected to release its quarterly earnings report May 08, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.01 per share this quarter, however they have predicted annual earnings per share of -$0.03 for 2024 and -$0.03 for 2025. It means analysts are expecting annual earnings per share growth of -137.50%.

From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $3.33 million. The company’s revenue is forecast to grow by 142.80% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Denison Mines Corp No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest DNN has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that DNN’s price is currently 12.29% off the SMA20 and 10.38% off the SMA50. The RSI metric on the 14-day chart is currently showing 68.05, and weekly volatility stands at 4.14%. When measured over the past 30 days, the indicator reaches 4.78%. Denison Mines Corp (AMEX:DNN)’s beta value is currently sitting at 1.69, while the Average True Range indicator is currently displaying 0.09.

To see how Denison Mines Corp stock has been performing in comparison to its peers in the industry, here are the numbers: DNN stock’s performance was 2.42% in the latest trading, and 92.73% in the past year. Denison Mines Corp has a P/E ratio of 48.18.

An evaluation of the daily trading volume of Denison Mines Corp (AMEX:DNN) indicates that the 3-month average is 14.08 million. However, this figure has increased over the past 10 days to an average of 12.34 million.

Currently, records show that 890.97 million of the company’s shares remain outstanding. The insiders hold 1.48% of outstanding shares, whereas institutions hold 45.18%. The stats also highlight that short interest as of Mar 15, 2024, stood at 42.34 million shares, resulting in a short ratio of 3.08 at that time. From this, we can conclude that short interest is 5.01% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 40.17 million. However, since the stock’s price has seen 19.77% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.