The Chart of the Day belongs to the Canadian uranium miner Denison Mines (DNN). I found the stock using Barchart’s powerful screening features to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 11/13, the stock has gained 10.84%.
Denison Mines Corp. operates as a uranium exploration and development company in Canada. Its flagship project is the 95% interest-owned Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp. in December 2006. Denison Mines Corp. was incorporated in 1954 and has headquarters in Toronto, Canada.
Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and therefore may change throughout the day as the market fluctuates. The indicator numbers shown below may not match what you see on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 70.17+ Weighted Alpha
- 55.93% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 10 new highs and increased 21.85% in the last month
- Relative Strength Index 71.78%
- Technical support level at $1.80
- Recently traded at $1.84 with a 50-day moving average of $1.5926
Fundamental Factors:
- Market cap $1.58 billion
- P/E 35.00
- Revenue expected to decline 16.80% this year and another 10.10% next year
- Earnings estimated to increase 200.00% this year but decrease 113.30% next year
Analysts and Investor Sentiment — I don’t buy stocks because everyone else does, but I do realize that if major companies and investors dump stocks, it’s hard to make money swimming against the tide:
- Wall Street analyst gave 4 strong buy, 3 buy and 1 hold opinions on the stock
- Analysts’ price targets are between $1.84 and $5.01 with a consensus of $5.00 for a 172% gain
- The individual investors following the stock on Motley Fool voted 792 to 24 for the stock to beat the market with the more experienced investors voting 63 to 3 for the same result.
- 19,310 investors monitor the stock at Seeking Alpha
Additional disclosure: The Barchart chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buying recommendations as these stocks are extremely volatile and speculative. If you decide to add one of these stocks to your investment portfolio, it is highly suggested that you follow a predetermined diversification and trailing stop loss discipline that matches your personal investment risk tolerance and re-evaluate your stop losses at least weekly.
As of the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.