Market Overview

UPDATE: Raymond James Upgrades Denison Mines to Outperform on Takeout Potential

Share:
Related DNN
Uranium Got You Down? Better Days Are Ahead, Says Cantor Fitzgerald
One Of The World's Top Uranium Analysts Just Shared His 4 Best Ideas
Barrick Shares Hit 52-Week Low on Lower Gold Prices (Zacks)

Raymond James upgraded Denison Mine Corp (NYSE: DNN) from Market Perform to Outperform and raised the price target from $1.60 to $1.80.

Raymond James noted, "Yesterday, Denison announced an updated 43-101 resource estimate for its flagship, 60%-interest Wheeler River project in northern Saskatchewan. … We recommend building positions in DML on corroboration of high-grade critical mass at Wheeler River and consequently, increased takeout potential. … We believe corroboration of a high-grade 60 Mlbs resource confirms Wheeler as a world-class deposit at, or very near, the size to justify an economic mine. Accordingly, we view takeout potential – already high, given DML's 22.5% interest in the McClean Lake mill – as bolstered by the news."

Denison Mines closed at $1.35 on Wednesday.

Latest Ratings for DNN

DateFirmActionFromTo
Apr 2014Credit SuisseUpgradesUnderperformNeutral
Mar 2014ScotiaDowngradesFocus Stock
Jun 2013Cantor FitzgeraldInitiates Coverage onBuy

View More Analyst Ratings for DNN
View the Latest Analyst Ratings

Posted-In: Raymond JamesAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (DNN)

Get Benzinga's Newsletters