Scotiabank Issues Pessimistic Forecast for Denison Mines (TSE:DML) Stock Price

Denison Mines (TSE:DML) (NYSE:DNN) had its target price decreased by Scotiabank from C$4.75 to C$3.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 82.93% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Raymond James cut their price target on Denison Mines from C$3.90 to C$3.70 and set an “outperform” rating for the company in a research note on Monday, March 17th. National Bankshares cut their target price on Denison Mines from C$4.30 to C$4.15 and set an “outperform” rating for the company in a research report on Monday, March 17th. Five analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and an average price target of C$3.57.

Denison Mines Price Performance

Shares of TSE DML opened at C$2.05 on Tuesday. The stock has a market cap of C$1.85 billion, a PE ratio of -68.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.89. Denison Mines has a 1 year low of C$1.85 and a 1 year high of C$3.45. The firm has a fifty day moving average price of C$2.35 and a 200-day moving average price of C$2.65.

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.