Higher Prices on the Way for Uranium?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 13 2024
0mins
Source: Benzinga
Uranium Market Outlook: The uranium market is experiencing volatility with prices fluctuating between the US$80s and US$90s, influenced by a U.S. ban on Russian uranium and reduced production forecasts from Kazakhstan's Kazatomprom, leading experts to predict continued upward pressure on prices due to increasing demand for nuclear energy.
Growing Energy Demand: The rise in electricity demand driven by artificial intelligence and electric vehicles is expected to necessitate significant investments in nuclear power, with projections indicating a supply deficit of around 20 million pounds of uranium by 2025, highlighting the potential for a bullish trend in the uranium sector.
Analyst Views on DNN
Wall Street analysts forecast DNN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for DNN is 3.30 USD with a low forecast of 3.00 USD and a high forecast of 3.60 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 3.750
Low
3.00
Averages
3.30
High
3.60
Current: 3.750
Low
3.00
Averages
3.30
High
3.60
About DNN
Denison Mines Corp. is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan, Canada. The Company holds a 95% interest in the Wheeler River Project, which is a uranium project. It hosts two uranium deposits: Phoenix and Gryphon. It is located along the eastern edge of the Athabasca Basin in northern Saskatchewan. It holds a 22.5% ownership interest in the McClean Lake joint venture (MLJV), which includes several uranium deposits and the McClean Lake uranium mill. It also holds a 25.17% interest in the Midwest Main and Midwest A deposits, and a 67.41% interest in the Tthe Heldeth Tue (THT) and Huskie deposits on the Waterbury Lake property. The Company, through JCU (Canada) Exploration Company, Limited, holds indirect interests in the Millennium project, the Kiggavik project, and the Christie Lake project. It also offers environmental services. The Company also uses MaxPERF drilling tool technology and systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
