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Denison Mines (DML) AI Stock Analysis

578 Followers
TSE:DML

Denison Mines

(TSX:DML)

Select Model
Rating:41Neutral
Price Target:CAD 3.00â–²(2.04% Upside)
Action:reiterated
Date:11/06/26

The score is weighed down primarily by weak financial performance (large losses, significant cash burn, and higher debt) and bearish technical trends (price below key moving averages with negative momentum). Valuation provides limited support due to negative earnings (negative P/E) and no dividend yield data.

Positive Factors
Flagship Project FocusA clearly identified flagship project gives Denison a defined development priority and can concentrate technical, financial, and partnership resources. Advancing Wheeler River may create a path toward future uranium production and improve the company’s strategic value over the medium term.
Negative Factors
Weak ProfitabilityVery low revenue relative to the reported loss shows that Denison has not yet established durable operating profitability. Persistent negative margins limit internally generated funding, increase reliance on transactions or financing, and make earnings dependent on project advancement.

Denison Mines (DML) vs. iShares MSCI Canada ETF (EWC)

-20%0%20%40%60%80%TSE:DML-11.71%EWC+21.04%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
CAD 1.86B
Dividend Yield
―
Average Volume (3M)
3.56M
Price to Earnings (P/E)
-42.9
Beta (1Y)
2.32
Revenue Growth
-15.87%
EPS Growth
69.97%
Country
Canada
Employees
65
Sector
Energy
Sector Strength
65
Industry
Uranium

Denison Mines Business Overview & Revenue Model

Company Description

Denison Mines Corp. operates across the entire uranium value chain within Canada, encompassing the acquisition, exploration, development, extraction, processing, and sale of uranium properties, as well as making strategic investments in the sector. A...

How the Company Makes Money

Denison Mines primarily makes money through (1) monetization and value appreciation of its uranium project interests, including through transactions such as property/interest sales, option arrangements, and joint-venture participation where applicabl...

Denison Mines Financial Statement Overview

Summary

Overall fundamentals are weak: the income statement shows deeply negative margins and a large TTM net loss (~-$58.8M) on modest revenue (~$4.1M). Cash flow is also pressured with negative operating cash flow (~-$96.0M) and deeply negative free cash flow (~-$241.9M), indicating ongoing cash burn and funding needs. The balance sheet still has meaningful equity (~$373.7M), but debt is now high (~$323.4M) versus prior years, increasing financial risk while losses persist.

Income Statement

24Negative

Balance Sheet

35Negative

Cash Flow

18Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue4.09M4.92M4.02M1.85M8.97M20.00M
Gross Profit-61.16M-80.94M-792.00K-2.04M3.62M7.10M
EBITDA-33.27M-190.90M-81.79M96.46M19.03M27.53M
Net Income-58.84M-217.29M-91.12M90.38M14.35M18.98M
Balance Sheet
Total Assets1.14B1.15B663.61M726.60M515.80M510.28M
Cash, Cash Equivalents and Short-Term Investments450.63M539.44M114.81M141.45M58.94M78.44M
Total Debt583.02M614.44M2.41M417.00K576.00K508.00K
Total Liabilities764.35M778.46M99.29M84.82M79.78M113.59M
Stockholders Equity373.75M368.37M564.32M641.78M436.02M396.69M
Cash Flow
Free Cash Flow-241.93M-118.64M-48.07M-33.90M-35.01M-22.48M
Operating Cash Flow-95.95M-68.15M-40.38M-30.67M-28.14M-21.25M
Investing Cash Flow-34.83M-49.52M426.00K-719.00K-6.76M-99.00M
Financing Cash Flow18.61M474.28M15.15M111.18M20.96M159.82M

Denison Mines Technical Analysis

Technical Analysis SentimentNegative
Last Price2.94

Price Trends

50DMA3.57Negative
100DMA4.00Negative
200DMA4.51Negative

Market Momentum

MACD-0.15Negative
RSI39.34Neutral
STOCH47.18Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DML, the sentiment is Negative. The current price of 2.94 is below the 20-day moving average (MA) of 3.12, below the 50-day MA of 3.57, and below the 200-day MA of 4.51, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 39.34 is Neutral, neither overbought nor oversold. The STOCH value of 47.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:DML.

Denison Mines Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

TSE:DML against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *65Neutral$15.17B7.614.09%5.20%3.87%-62.32%
TSE:CCOTSE:CCO59NeutralCAD 43.90B110.045.61%0.24%0.43%-24.41%
TSE:MGATSE:MGA49NeutralCAD 171.89M28.342.29%―――
TSE:NXETSE:NXE47NeutralCAD 7.41B-47.38-8.02%――61.06%
TSE:EUTSE:EU45NeutralCAD 153.70M-1.16-41.00%―40.71%-66.47%
TSE:DMLTSE:DML41NeutralCAD 2.66B-42.86-18.23%―-15.87%69.97%

* Energy Sector Average

Performance Comparison

-50%0%50%100%TSE:DMLTSE:CCOTSE:EUTSE:MGATSE:NXEDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TSE:DML and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:DMLDenison Mines Corp2.94-0.44-13.02%
TSE:CCOCameco100.80-15.60-13.41%
TSE:EUenCore Energy0.78-2.71-77.65%
TSE:MGAMega Uranium0.450.0925.35%
TSE:NXENexgen Energy (US)11.05-0.09-0.81%

Denison Mines Corporate Events

Business Operations and Strategy

Denison Reports Phoenix Construction Progress and Uranium Discoveries

Positive
Nov 5, 2026

Denison Mines reported third-quarter 2026 operational progress at Phoenix, highlighted by approximately 24% total completion after the first quarter of full-scale construction. Nearly half of site civil work was complete by late October, while access...

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing

Denison Advances Phoenix Mine Construction and Unlocks Gains From Uranium Sales

Positive
Aug 12, 2026

Denison Mines reported that construction at its Phoenix ISR uranium mine in Saskatchewan has moved from site preparation into full-scale activity, with over 20% of total site civil work completed and nearly all civil subgrade work finished for the pr...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 06, 2026