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Denison Mines
(NYSE MKT:DML)
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Rating:43Neutral
Price Target:
C$4.00
▼(-2.44% Downside)
Action:Reiterated
Date:05/15/26
The score is primarily weighed down by weak financial performance (large TTM losses, persistent cash burn, and materially higher leverage). Technical indicators add a modestly negative tilt due to price trading below key short-/mid-term averages and slightly negative momentum. Valuation provides limited support given the negative P/E and no stated dividend yield.
Positive Factors
Diversified uranium revenue model
Denison's business model combines production-linked revenue, contracted milling/processing services, and occasional asset monetizations. This multi‑pronged structure reduces reliance on a single cash source, supporting more durable revenue pathways as projects advance or partners operate production.
Negative Factors
Elevated leverage
Leverage of roughly 2.8x debt-to-equity materially raises refinancing and covenant risk. In a capital‑intensive, cyclical mining sector with long development timelines, high debt amplifies downside, may force asset sales or dilutive financing, and constrains strategic flexibility over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified uranium revenue model
Denison's business model combines production-linked revenue, contracted milling/processing services, and occasional asset monetizations. This multi‑pronged structure reduces reliance on a single cash source, supporting more durable revenue pathways as projects advance or partners operate production.
Read all positive factors
Denison Mines (DML) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.57B
Dividend YieldN/A
Average Volume (3M)2.37M
Price to Earnings (P/E)―
Beta (1Y)2.52
Revenue Growth1.82%
EPS Growth-149.96%
CountryCA
Employees65
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.32
Shares Outstanding905,016,970
10 Day Avg. Volume2,879,846
30 Day Avg. Volume2,372,248
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)8.86
Price to Sales (P/S)663.61
P/FCF Ratio-27.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$6.49Price Target Upside58.35% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.13
Revenue Forecast (FY)C$34.22M
Denison Mines Business Overview & Revenue Model
Company Description
Denison Mines Corp. operates across the entire uranium value chain within Canada, encompassing the acquisition, exploration, development, extraction, processing, and sale of uranium properties, as well as making strategic investments in the sector...
How the Company Makes Money
Denison makes money primarily through (1) uranium production-linked interests in operating mines and projects, where it earns its share of revenue (or cash distributions) tied to uranium sales by those operations, and (2) uranium processing servic...
Denison Mines Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.65M | 4.92M | 4.02M | 1.85M | 8.97M | 20.00M |
| Gross Profit | -43.31M | -80.94M | -792.00K | -2.04M | 3.62M | 7.10M |
| EBITDA | -227.88M | -190.90M | -81.81M | 97.27M | 18.81M | 21.68M |
| Net Income | -288.63M | -217.29M | -91.12M | 90.38M | 14.35M | 18.98M |
Balance Sheet | ||||||
| Total Assets | 1.11B | 1.15B | 663.61M | 726.60M | 515.80M | 510.28M |
| Cash, Cash Equivalents and Short-Term Investments | 561.39M | 539.44M | 114.81M | 141.45M | 58.94M | 78.44M |
| Total Debt | 730.00M | 614.44M | 2.41M | 417.00K | 576.00K | 508.00K |
| Total Liabilities | 846.17M | 778.46M | 99.29M | 84.82M | 79.78M | 113.59M |
| Stockholders Equity | 260.14M | 368.37M | 564.32M | 641.78M | 436.02M | 396.69M |
Cash Flow | ||||||
| Free Cash Flow | -145.37M | -118.64M | -48.07M | -33.90M | -35.01M | -22.48M |
| Operating Cash Flow | -86.78M | -68.15M | -40.38M | -30.67M | -28.14M | -21.25M |
| Investing Cash Flow | -57.40M | -49.52M | 426.00K | -719.00K | -6.76M | -99.00M |
| Financing Cash Flow | 477.55M | 474.28M | 15.15M | 111.18M | 20.96M | 159.82M |
Denison Mines Technical Analysis
Neutral
4.10
Price Trends
4.39
Negative
4.68
Negative
4.58
Negative
Market Momentum
-0.07
Negative
53.39
Neutral
83.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DML, the sentiment is Neutral. The current price of 4.1 is below the 20-day moving average (MA) of 4.19, below the 50-day MA of 4.39, and below the 200-day MA of 4.58, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 53.39 is Neutral, neither overbought nor oversold. The STOCH value of 83.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:DML.
Denison Mines Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | C$52.69B | 147.97 | 5.09% | 0.19% | -2.68% | -33.51% | |
56 Neutral | C$561.03M | 95.81 | 15.27% | ― | 136.01% | 209.71% | |
54 Neutral | C$8.49B | -18.58 | -30.30% | ― | ― | -316.64% | |
47 Neutral | C$200.15M | 23.53 | 3.44% | ― | ― | ― | |
43 Neutral | C$3.57B | -12.23 | -73.67% | ― | 1.82% | -149.96% | |
42 Neutral | C$297.07M | -7.36 | -10.95% | ― | -7.88% | 65.90% |
* Energy Sector Average
TSE:DML
Denison Mines
4.37
1.44
49.15%
TSE:CCO
Cameco
131.36
25.57
24.17%
TSE:EU
enCore Energy
1.62
-2.04
-55.74%
TSE:MGA
Mega Uranium
0.56
0.29
107.41%
TSE:NXE
NexGen Energy
14.31
4.86
51.43%
TSE:URC
Uranium Royalty Corp
3.83
0.21
5.80%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.