Denison Mines Expands Stake in Foremost Clean Energy

Denison Mines ( (TSE:DML) ) just unveiled an announcement.

Denison Mines Corp. has increased its investment in Foremost Clean Energy Ltd. by acquiring an additional 485,000 common shares, bringing its total ownership to 19% of Foremost’s issued and outstanding shares. This strategic move aligns with Denison’s investment purposes and its rights under the Investor Rights Agreement with Foremost, potentially impacting its market positioning in the clean energy sector.

The most recent analyst rating on (TSE:DML) stock is a Hold with a C$2.50 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.

Denison Mines’ overall stock score is primarily influenced by its financial performance challenges, including negative profit margins and cash flow inefficiencies. Technical analysis provides mixed signals, with limited momentum. Valuation concerns arise from a negative P/E ratio and lack of dividend yield, further impacting the score.

To see Spark’s full report on TSE:DML stock, click here.

More about Denison Mines

Denison Mines Corp. is a uranium mining, exploration, and development company with a primary focus on the Athabasca Basin region of northern Saskatchewan, Canada. The company holds a significant interest in the Wheeler River Uranium Project, which is the largest undeveloped uranium project in the eastern Athabasca Basin. Denison also has interests in various other uranium projects and joint ventures in Canada, including the McClean Lake Joint Venture and the Midwest Joint Venture. The company celebrated its 70th year in the uranium industry in 2024.

Average Trading Volume: 3,358,970

Technical Sentiment Signal: Buy

Current Market Cap: C$3.02B

For detailed information about DML stock, go to TipRanks’ Stock Analysis page.