The uranium exploration and development company Denison Mines Corp ( DNN ), which is known for its Wheeler River uranium project, rallied 55.1% over the past month to close yesterday’s trading session at $1.14. The unusually cold weather in the United States this winter is driving a huge demand for electricity. This is being met in-part by nuclear power plants that require uranium to generate electricity.
Nevertheless, DNN has declined 23.2% since hitting its 52-week high of $1.81 on February 17, 2021. This can be primarily attributed to the company’s weak financials. Also, DNN’s projects are still in their early stages. Its flagship project, the Wheeler River, is still in its evaluation and environmental assessment stage.
Here are the factors that we think could influence DNN’s performance in the near term:
Selling Shares to Fund Developmental Activities DNN announced on March 3, 2021 that it had closed its private placement of […]
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