2024-02-22 00:31:36 ET
Summary
- Denison Mines has multiple uranium projects, including the flagship Wheeler River project.
- DNN's balance sheet has improved with the increase in the price of uranium and an equity raise.
- We update our views in light of the recent run-up.
Denison Mines Corp. ( DNN ) was one of the rare mining plays that we gave a buy rating. The rationale was a depressed commodity set to rise (uranium, of course), alongside a clean balance sheet and ownership of projects that offered value at current commodity pricing. We suggested investors play it with a defensive covered call as the high implied volatility offered radioactive returns, even if the stock declined by 15%....
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Denison Mines: A Pause Coming In Uranium Bull Market