Want to see TSE:DML full AI Analyst Report?
Top Page
Denison Mines
(TSX:DML)
Select Model
Select Model
Rating:41Neutral
Price Target:
C$3.00
▼(-41.52% Downside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by weak financial performance—large TTM losses, persistent cash burn, and sharply higher leverage—which raises funding and execution risk. Technicals add further pressure as the stock is in a clear downtrend with weak momentum. Valuation provides limited offset because earnings are negative and there is no dividend yield support.
Positive Factors
Athabasca Basin Project Portfolio
A concentrated portfolio in the Athabasca Basin gives Denison exposure to a major uranium district and supports potential value creation across several projects. Its flagship Wheeler River focus provides a defined development anchor, while multiple interests can diversify project-level outcomes over the medium term.
Negative Factors
Persistent Unprofitability
Very low and declining recent revenue combined with a large net loss indicates that Denison has not yet established stable operating earnings. The history of sharp swings from profit to sizable losses makes internal funding less predictable and increases reliance on project milestones or external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Athabasca Basin Project Portfolio
A concentrated portfolio in the Athabasca Basin gives Denison exposure to a major uranium district and supports potential value creation across several projects. Its flagship Wheeler River focus provides a defined development anchor, while multiple interests can diversify project-level outcomes over the medium term.
Read all positive factors
Denison Mines (DML) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.96B
Dividend YieldN/A
Average Volume (3M)3.55M
Price to Earnings (P/E)―
Beta (1Y)2.32
Revenue Growth-9.37%
EPS Growth-217.41%
CountryCA
Employees65
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.31
Shares Outstanding905,216,100
10 Day Avg. Volume4,230,448
30 Day Avg. Volume3,548,605
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)8.86
Price to Sales (P/S)663.61
P/FCF Ratio-27.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$6.05Price Target Upside18.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.11
Revenue Forecast (FY)C$18.42M
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...
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 applic...
Denison Mines Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.09M | 4.92M | 4.02M | 1.85M | 8.97M | 20.00M |
| Gross Profit | -57.87M | -80.94M | -792.00K | -2.04M | 3.62M | 7.10M |
| EBITDA | -253.66M | -190.90M | -81.79M | 96.46M | 19.03M | 27.53M |
| Net Income | -275.57M | -217.29M | -91.12M | 90.38M | 14.35M | 18.98M |
Balance Sheet | ||||||
| Total Assets | 1.11B | 1.15B | 663.61M | 726.60M | 515.80M | 510.28M |
| Cash, Cash Equivalents and Short-Term Investments | 549.66M | 539.44M | 114.81M | 141.45M | 58.94M | 78.44M |
| Total Debt | 687.27M | 614.44M | 2.41M | 417.00K | 576.00K | 508.00K |
| Total Liabilities | 825.45M | 778.46M | 99.29M | 84.82M | 79.78M | 113.59M |
| Stockholders Equity | 288.90M | 368.37M | 564.32M | 641.78M | 436.02M | 396.69M |
Cash Flow | ||||||
| Free Cash Flow | -167.06M | -118.64M | -48.07M | -33.90M | -35.01M | -22.48M |
| Operating Cash Flow | -87.07M | -68.15M | -40.38M | -30.67M | -28.14M | -21.25M |
| Investing Cash Flow | 12.49M | -49.52M | 426.00K | -719.00K | -6.76M | -99.00M |
| Financing Cash Flow | 478.40M | 474.28M | 15.15M | 111.18M | 20.96M | 159.82M |
Denison Mines Technical Analysis
Negative
5.13
Price Trends
4.07
Negative
4.23
Negative
4.67
Negative
Market Momentum
-0.26
Positive
32.98
Neutral
26.82
Neutral
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 5.13 is above the 20-day moving average (MA) of 3.48, above the 50-day MA of 4.07, and above the 200-day MA of 4.67, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 32.98 is Neutral, neither overbought nor oversold. The STOCH value of 26.82 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | C$49.28B | 140.92 | 5.09% | 0.21% | -2.68% | -33.51% | |
54 Neutral | C$7.98B | -27.84 | -16.11% | ― | ― | -23.38% | |
50 Neutral | C$187.33M | 30.89 | 2.29% | ― | ― | ― | |
45 Neutral | C$219.02M | -2.52 | -25.71% | ― | 21.99% | 5.66% | |
41 Neutral | C$2.96B | -10.60 | -83.49% | ― | -9.37% | -217.41% |
* Energy Sector Average
TSE:DML
Denison Mines
3.05
-0.77
-20.16%
TSE:CCO
Cameco
110.55
-9.88
-8.20%
TSE:EU
enCore Energy
1.08
-3.00
-73.53%
TSE:MGA
Mega Uranium
0.45
0.05
13.92%
TSE:NXE
NexGen Energy
11.37
-0.40
-3.40%
Denison Mines Corporate Events
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...
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.