Denison Mines Corp (DNN) Stock Forecast & Analysis
Denison Mines Corp (NYSE: DNN, TSX: DML) is a Canadian uranium exploration and development company focused on the Athabasca Basin in Saskatchewan. Its flagship Wheeler River project hosts the Phoenix and Gryphon deposits and is expected to be the next major uranium mine in the basin. Denison plans to use an innovative in-situ recovery method at Phoenix, which would make it one of the lowest-cost uranium operations globally: the 2023 feasibility study puts Phoenix's all-in cost at US$16.04/lb (C$21.73, pre-tax, including post-decision capital).
What does Denison Mines (DNN) do?
Denison Mines is a Canadian uranium developer focused on the Athabasca Basin. Its flagship Wheeler River project contains the Phoenix and Gryphon deposits with 134.7 Mlbs of uranium resources on a 100% project basis (Denison holds an effective ~95% interest). The company plans to use innovative ISR mining methods.
Is DNN stock a good investment?
DNN offers high leverage to uranium prices as a developer with one of the lowest projected production costs (feasibility-study all-in cost of US$16.04/lb for Phoenix). It carries development risk but the Wheeler River project is one of the most attractive undeveloped uranium projects globally.
When will Denison Mines start producing uranium?
Denison Mines is advancing the Wheeler River project through permitting and environmental assessment. First production is targeted after regulatory approvals are secured, with the ISR mining approach offering a faster path to production than conventional mining.
Margin & leverage
resource source Full screener →Margin vs spot (FS cost)
$74/lb
spot $90 − fs cost $16 · 82% of spot
In-situ leverage
4.7×
in-situ resource value ÷ market cap
Jurisdiction
Saskatchewan (Athabasca)
Computed live from the screener's cited resource and cost inputs and the current spot price; margins use FS cost where the company disclosed it.
Mine projects
Full project table →| Project | Location | Status | Resource | Grade | AISC | Source |
|---|---|---|---|---|---|---|
| Wheeler River / Phoenix | Saskatchewan (Athabasca)Canada | Development | 141.0 Mlb | 19.1% U3O8 | — | source |
Curated mine & project database, updated 2026-07-10. Deposit type and restart status per the linked disclosures.
Term contracts announced
Full contract database →| Buyer | Volume | Delivery | Pricing | Announced | Source |
|---|---|---|---|---|---|
| Undisclosed utilitiesTerm sales agreements supporting Phoenix; mix of market-related and fixed components. | 2.3 Mlbs | 2028–2032 | hybrid | 2024-02 | source |
Announced term contracts where this company is a seller, from the curated contract database. The long-term market is reported only in fragments — absence of a row is not absence of a contract.
Mines & facilities
Mines map →- Wheeler River - PhoenixDevelopment · Saskatchewan, Canada
- Wheeler River - GryphonDevelopment · Saskatchewan, Canada
Guides on this company
About Denison Mines Corp (DNN)
Denison Mines Corp (NYSE: DNN, TSX: DML) is a Canadian uranium exploration and development company focused on the Athabasca Basin in Saskatchewan. Its flagship Wheeler River project hosts the Phoenix and Gryphon deposits and is expected to be the next major uranium mine in the basin. Denison plans to use an innovative in-situ recovery method at Phoenix, which would make it one of the lowest-cost uranium operations globally: the 2023 feasibility study puts Phoenix's all-in cost at US$16.04/lb (C$21.73, pre-tax, including post-decision capital).
Frequently Asked Questions about DNN
What does Denison Mines (DNN) do?
Denison Mines is a Canadian uranium developer focused on the Athabasca Basin. Its flagship Wheeler River project contains the Phoenix and Gryphon deposits with 134.7 Mlbs of uranium resources on a 100% project basis (Denison holds an effective ~95% interest). The company plans to use innovative ISR mining methods.
Is DNN stock a good investment?
DNN offers high leverage to uranium prices as a developer with one of the lowest projected production costs (feasibility-study all-in cost of US$16.04/lb for Phoenix). It carries development risk but the Wheeler River project is one of the most attractive undeveloped uranium projects globally.
When will Denison Mines start producing uranium?
Denison Mines is advancing the Wheeler River project through permitting and environmental assessment. First production is targeted after regulatory approvals are secured, with the ISR mining approach offering a faster path to production than conventional mining.
Dividend & analyst view for DNN
Dividend
Denison Mines Corp (DNN) does not currently pay a dividend — common for uranium developers and explorers that reinvest in their projects.
Analyst price target
The consensus analyst price target for DNN is about $4.73 across 12 analysts.
Aggregated third-party analyst estimates — not a forecast or recommendation by Yellowcake Analytics.
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Yellowcake Analytics. "Denison Mines Corp (DNN) Stock Analysis." Yellowcake Analytics, 2026, https://www.yellowcakeanalytics.com/stocks/DNN.
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