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Denison Mines ( (TSE:DML) ) just unveiled an announcement.
Denison Mines Corp. is a Canadian uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan. Its portfolio includes a dominant 95% effective interest in the flagship Wheeler River project, plus stakes in the McClean Lake, Midwest, Waterbury Lake and other joint ventures, supported by the nearby McClean Lake mill and over 457,000 hectares of prospective ground.
Through its 50% ownership of JCU, Denison also holds interests in additional Canadian uranium projects, including Millennium, Kiggavik and Christie Lake. The company, which marked 70 years in uranium mining, exploration and development in 2024, positions itself as a future low-cost producer leveraging in-situ recovery and conventional mining methods across multiple high-grade deposits in the Athabasca Basin.
Denison Mines announced that on February 24, 2026, its board approved a Final Investment Decision to proceed with construction of the Phoenix in-situ recovery uranium mine at the Wheeler River project. Site preparation and construction are scheduled to begin in March 2026, following key provincial and federal environmental approvals and the grant of a licence to prepare the site and construct.
Management said the move will launch construction of what is expected to be the first new large-scale Canadian uranium mine in more than two decades, with a build period of about two years and an objective of first production by mid-2028. If executed as planned, Phoenix could position Denison among a small group of global uranium suppliers bringing sizeable new low-cost production to market before the end of the decade, reinforcing its role in the Athabasca Basin uranium sector.
The most recent analyst rating on (TSE:DML) stock is a Buy with a C$7.00 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 Canadian uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan. Its portfolio includes a dominant 95% effective interest in the flagship Wheeler River project, plus stakes in the McClean Lake, Midwest, Waterbury Lake and other joint ventures, supported by the nearby McClean Lake mill and over 457,000 hectares of prospective ground.
Through its 50% ownership of JCU, Denison also holds interests in additional Canadian uranium projects, including Millennium, Kiggavik and Christie Lake. The company, which marked 70 years in uranium mining, exploration and development in 2024, positions itself as a future low-cost producer leveraging in-situ recovery and conventional mining methods across multiple high-grade deposits in the Athabasca Basin.
Denison Mines announced that on February 24, 2026, its board approved a Final Investment Decision to proceed with construction of the Phoenix in-situ recovery uranium mine at the Wheeler River project. Site preparation and construction are scheduled to begin in March 2026, following key provincial and federal environmental approvals and the grant of a licence to prepare the site and construct.
Management said the move will launch construction of what is expected to be the first new large-scale Canadian uranium mine in more than two decades, with a build period of about two years and an objective of first production by mid-2028. If executed as planned, Phoenix could position Denison among a small group of global uranium suppliers bringing sizeable new low-cost production to market before the end of the decade, reinforcing its role in the Athabasca Basin uranium sector.
Average Trading Volume: 3,973,300
Technical Sentiment Signal: Buy
Current Market Cap: C$4.9B
Find detailed analytics on DML stock on TipRanks’ Stock Analysis page.