topstockalerts
Oct 7, 2:28 AM
Denison Mines shares rose as uranium prices held near a six-month high, fueling a broad rally in Canadian uranium stocks. Spot uranium futures traded around
$89.70-
$89.95 per pound, about 10% above year-ago levels, boosting investor interest in uranium producers and developers.
The move extended across the sector, with Cameco, NexGen Energy and IsoEnergy also posting strong gains. Analysts remain constructive on Denison, with a consensus Buy rating and a price target implying significant upside.
Uranium forward prices also remained firm, with medium- and long-term indicators around
$91 and
$97 per pound, respectively, signaling expectations that demand will continue to outpace supply. A positive broader market backdrop, including gains of about 0.7% for the S&P 500 and 0.6% for the Nasdaq, further supported resource stocks.
Denison opened at C
$3.80, reached C
$4.01 and traded around C
$3.94, above its 52-week low of C
$3.12 but well below its C
$6.04 high.
$DNN $CCJ
