Denison Mines (DNN, Financial) and Orano Canada have commenced uranium mining at the McClean Lake Joint Venture using the partnership's innovative Surface Access Borehole Resource Extraction (SABRE) mining technique. Orano Canada, holding a 77.5% stake, manages the venture, while Denison Mines possesses a 22.5% share. Since June, the SABRE method has been employed at the McClean North uranium deposit, successfully extracting an estimated 250 tonnes of high-grade ore from the initial mining cavity.
Orano Canada has reported that they have completed backfilling the first cavity and have moved the SABRE equipment to the next planned mining site. Additionally, they have begun processing the extracted ore at the McClean Lake mill, marking a significant step forward in their uranium production efforts.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Denison Mines Corp (DNN, Financial) is $2.82 with a high estimate of $3.03 and a low estimate of $2.70. The average target implies an upside of 39.01% from the current price of $2.03. More detailed estimate data can be found on the Denison Mines Corp (DNN) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Denison Mines Corp's (DNN, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Denison Mines Corp (DNN, Financial) in one year is $0.70, suggesting a downside of 65.52% from the current price of $2.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Denison Mines Corp (DNN) Summary page.
