TSX:DML - Post Discussion
Post by
TELEMARKER on Apr 12, 2024 12:03pm
stockwatch.com
Globe says Denison Mines kept at "speculative buy"
2024-04-10 08:09 ET - In the News
The Globe and Mail reports in its Wednesday edition that analysts at Canaccord Genuity are optimistic about the future of uranium prices. The Globe's David Leeder writes in the Eye On Equities column that the Canaccord stockpickers believe that the demand for uranium is strong and the supply is weak, which is a good sign for investors. They expect the market to remain in a structural deficit until 2027, and the only way to balance it is by advancing greenfield projects. However, these projects are risky, so it is uncertain when the market will return to equilibrium. Overall, the analysts are positive about the outlook for uranium prices for the rest of the year. Demand for nuclear power is more durable than ever. As a low-carbon, reliable source of baseload energy, nuclear power is increasingly being viewed as critical to global decarbonization and energy security. Canaccord analyst Katie Lachappelle has reaffirmed her "speculative buy" recommendation for Denison Mines. She tweaked her share target ahead by 25 cents to $3.75. Analysts on average target the shares at $3.80. The Globe reported on Sept. 29 that Raymond James analyst Brian MacArthur continued to rate Denison "outperform." It was then worth $2.23
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