Denison Mines (NYSE:DNN) Moving Up on Long Term Uranium Prices

The market has quickly changed for the outlook of uranium prices, as they had been dragged down by the low price of natural gas and uncertainty as to the future of nuclear, at least in the short term. Denison Mines (NYSE:DNN) and other uranium miners have continued to push up even in those circumstances, and have received more impetus lately as analysts and commentators focus again on uranium.

TD Newcrest upgraded Denison as a result of the expected long-term price increase in uranium.

They said, "We are increasing our target price our rating following our increased uranium price forecasts. And we have updated our valuation estimates to reflect yesterday’s preliminary resource estimate for the Wheeler River discovery, which was below our estimates and previous company guidance ranges."

Denison was trading at $2.72, up by $0.07, or 2.64 percent at 1:25 PM EST. TD Newcrest raised their price target on them from C$2 to C$3.