Denison Mines (TSE:DML)
TSX:DML
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Denison Mines
(TSX:DML)
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Rating:48Neutral
Price Target:
C$5.00
▼(-5.66% Downside)
Action:ReiteratedDate:03/12/26
Overall score is weighed down primarily by weak financial performance (severe recent losses, persistent negative operating/free cash flow, and sharply higher leverage). Technicals provide some offset with a generally supportive longer-term trend and neutral momentum indicators. Valuation is limited by negative earnings and no dividend yield data.
Positive Factors
Strategic asset base (Athabasca Basin)
Denison's concentration in the Athabasca Basin provides a durable, structural advantage: the basin hosts some of the world's highest-grade uranium deposits, supporting long-term resource optionality and value creation through development, JV deals or asset monetization as uranium cycles recover.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flow is a material structural weakness: the business cannot self-fund development or sustain operations without external financing, increasing dilution and refinancing risk and constraining capital allocation to projects over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic asset base (Athabasca Basin)
Denison's concentration in the Athabasca Basin provides a durable, structural advantage: the basin hosts some of the world's highest-grade uranium deposits, supporting long-term resource optionality and value creation through development, JV deals or asset monetization as uranium cycles recover.
Read all positive factors
Denison Mines (DML) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.83B
Dividend YieldN/A
Average Volume (3M)3.87M
Price to Earnings (P/E)―
Beta (1Y)2.42
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees65
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.05
Shares Outstanding904,173,650
10 Day Avg. Volume4,784,406
30 Day Avg. Volume3,869,832
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$6.37Price Target Upside20.21% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.05
Revenue Forecast (FY)C$22.03M
Denison Mines Business Overview & Revenue Model
Company Description
Denison Mines Corp. engages in the acquisition, exploration, development, extraction, processing, selling of, and investing in uranium properties in Canada. Its flagship project is the 95% interest owned Wheeler River uranium project located in th...
How the Company Makes Money
Denison Mines makes money primarily through (1) advancing and monetizing its uranium project portfolio and (2) earning income from its ownership interests in uranium processing and related uranium-industry investments. Key revenue and earnings dri...
Denison Mines Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
33
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.92M | 4.02M | 1.85M | 8.97M | 20.00M |
| Gross Profit | -80.94M | -792.00K | -2.04M | 3.62M | 7.10M |
| EBITDA | -68.22M | -81.81M | 97.27M | 18.81M | 21.68M |
| Net Income | -217.29M | -91.12M | 90.38M | 14.35M | 18.98M |
Balance Sheet | |||||
| Total Assets | 1.15B | 663.61M | 726.60M | 515.80M | 510.28M |
| Cash, Cash Equivalents and Short-Term Investments | 539.44M | 114.81M | 141.45M | 58.94M | 78.44M |
| Total Debt | 614.44M | 2.41M | 417.00K | 576.00K | 508.00K |
| Total Liabilities | 778.46M | 99.29M | 84.82M | 79.78M | 113.59M |
| Stockholders Equity | 368.37M | 564.32M | 641.78M | 436.02M | 396.69M |
Cash Flow | |||||
| Free Cash Flow | -118.64M | -48.07M | -33.90M | -35.01M | -22.48M |
| Operating Cash Flow | -68.15M | -40.38M | -30.67M | -28.14M | -21.25M |
| Investing Cash Flow | -49.52M | 426.00K | -719.00K | -6.76M | -99.00M |
| Financing Cash Flow | 474.28M | 15.15M | 111.18M | 20.96M | 159.82M |
Denison Mines Technical Analysis
Positive
5.30
Price Trends
5.20
Positive
4.76
Positive
4.06
Positive
Market Momentum
0.04
Negative
56.48
Neutral
78.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DML, the sentiment is Positive. The current price of 5.3 is above the 20-day moving average (MA) of 4.95, above the 50-day MA of 5.20, and above the 200-day MA of 4.06, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 56.48 is Neutral, neither overbought nor oversold. The STOCH value of 78.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | C$71.31B | 92.81 | 8.76% | 0.19% | 23.88% | 350.69% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | C$11.17B | -24.00 | -25.38% | ― | ― | -308.46% | |
56 Neutral | C$790.98M | 113.31 | 1.35% | ― | -0.90% | -93.94% | |
48 Neutral | C$4.83B | -15.02 | -47.51% | ― | ― | ― | |
46 Neutral | C$291.61M | -25.25 | <0.01% | ― | ― | 22.89% | |
41 Neutral | C$557.40M | -10.75 | -22.51% | ― | 2.06% | 13.58% |
* Energy Sector Average
TSE:DML
Denison Mines
5.21
3.42
191.06%
TSE:CCO
Cameco
159.43
104.00
187.61%
TSE:EU
enCore Energy
2.70
0.92
51.69%
TSE:MGA
Mega Uranium
0.71
0.46
184.00%
TSE:NXE
NexGen Energy
16.64
10.26
160.82%
TSE:URC
Uranium Royalty Corp
4.90
2.50
104.17%
Denison Mines Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Denison Mines Files 2025 Form 40-F as Athabasca Uranium Projects Advance
Positive
Mar 31, 2026
Denison Mines has filed its 2025 Annual Report on Form 40-F with the U.S. Securities and Exchange Commission, providing its annual information form, management discussion and analysis, and audited financial statements for the year ended December 3...
Business Operations and StrategyPrivate Placements and Financing
Denison Greenlights Phoenix ISR Uranium Mine as McClean Output Ramps Up
Positive
Mar 11, 2026
Denison Mines has taken a final investment decision to build its Phoenix in-situ recovery uranium mine, following receipt of all necessary regulatory approvals, near-completion of engineering work, and the appointment of Wood Plc as construction m...
Business Operations and StrategyRegulatory Filings and Compliance
Denison Greenlights Phoenix Uranium Mine, Construction to Start March 2026
Positive
Feb 25, 2026
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 e...
Business Operations and StrategyRegulatory Filings and Compliance
Denison Wins Final Approval to Build Canada’s First ISR Uranium Mine
Positive
Feb 19, 2026
Denison Mines has received final federal regulatory approval from the Canadian Nuclear Safety Commission to construct the Phoenix in-situ recovery uranium mine and mill at its Wheeler River project in northern Saskatchewan. With provincial approva...
Business Operations and Strategy
Denison Taps Wood Canada to Manage Construction of Phoenix Uranium Mine
Positive
Feb 17, 2026
Denison Mines has awarded Wood Canada Limited the construction management contract for its Phoenix in-situ recovery uranium mine at the Wheeler River project in northern Saskatchewan, following a competitive tender process. Wood, which co-authored...
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.