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Denison Mines ( (TSE:DML) ) has provided an announcement.
Denison Mines has approved a final investment decision to build the Phoenix in-situ recovery uranium mine at its Wheeler River project in northern Saskatchewan, with site preparation and construction scheduled to begin in March 2026. The company expects a roughly two-year build, targeting first production by mid-2028, positioning Phoenix as the first new large-scale Canadian uranium mine in more than two decades.
Phoenix and the nearby Gryphon deposit are both expected to rank among the lowest-cost uranium operations globally, supported by extensive permitting work that culminated in recent provincial and federal approvals and a licence to construct. The move advances Denison’s strategy to become a significant near-term uranium supplier, leveraging its existing Athabasca infrastructure, joint venture interests, and mill access to strengthen its role in a tightening global uranium market.
The most recent analyst rating on (TSE:DML) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Denison Mines stock, see the TSE:DML Stock Forecast page.
Spark’s Take on TSE:DML Stock
According to Spark, TipRanks’ AI Analyst, TSE:DML is a Neutral.
The score is weighed down primarily by weak financial performance—heavy losses, persistently negative operating/free cash flow, and higher leverage despite an equity cushion. Technicals are a partial offset with a strong uptrend, but overbought readings elevate near-term downside risk. Valuation also detracts due to a negative P/E and no dividend yield provided.
To see Spark’s full report on TSE:DML stock, click here.
More about Denison Mines
Denison Mines Corp. is a uranium exploration and development company focused on Canada’s Athabasca Basin, one of the world’s premier uranium districts. Its portfolio is led by a 95% effective interest in the Wheeler River project, alongside stakes in the McClean Lake and Midwest joint ventures and other nearby deposits that collectively span about 457,000 hectares and support both mining and milling activities.
Average Trading Volume: 3,690,640
Technical Sentiment Signal: Buy
Current Market Cap: C$4.84B
Find detailed analytics on DML stock on TipRanks’ Stock Analysis page.