Scotiabank Analysts Cut Earnings Estimates for Denison Mines

Denison Mines Corp. (TSE:DML) (NYSE:DNN) – Analysts at Scotiabank decreased their FY2024 earnings per share estimates for shares of Denison Mines in a report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings of ($0.10) per share for the year, down from their prior forecast of ($0.08). The consensus estimate for Denison Mines’ current full-year earnings is ($0.01) per share. Scotiabank also issued estimates for Denison Mines’ FY2026 earnings at ($0.04) EPS.

A number of other equities research analysts have also weighed in on the stock. Raymond James lifted their price objective on shares of Denison Mines from C$3.50 to C$3.90 in a report on Friday, November 22nd. National Bankshares raised their price target on shares of Denison Mines from C$3.50 to C$4.15 and gave the company an “outperform” rating in a report on Thursday, October 24th. CIBC set a C$3.25 price target on Denison Mines and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating and set a C$3.00 target price for the company in a research note on Wednesday, September 25th. Finally, Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$3.76.

Denison Mines Stock Performance

Denison Mines stock opened at C$2.81 on Friday. The firm has a market capitalization of C$2.51 billion, a P/E ratio of 46.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.89. The company’s 50-day moving average is C$2.98 and its 200 day moving average is C$2.68. Denison Mines has a 1-year low of C$1.91 and a 1-year high of C$3.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.94 and a quick ratio of 3.12.

Insider Activity

In related news, Senior Officer Andrew Alan Yackulic sold 45,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$2.84, for a total value of C$129,124.45. Company insiders own 0.31% of the company’s stock.

About Denison Mines

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.