Raymond James Raises PT on Denison Mines from C$3.80 to C$4, Keeps Outperform Rating

Denison Mines Corp. (NYSE:DNN) is one of the 11 Low Price High Volume Stocks to Buy According to Analysts. On August 18, Raymond James raised the price target on Denison Mines Corp. (NYSE:DNN) from C$3.80 to C$4, keeping its Outperform rating on the stock.

Brian MacArthur from Raymond James increased the price target on DNN, a second increase in a period of a month. MacArthur previously raised the price target from C$3.70 to C$3.80 on July 18, following the company’s discovery of additional high-grade mineralization. The recent upgrade follows Denison’s convertible senior unsecured notes completion, which raised around $345 million.

The offering also includes an upsized offering of $300 million and the full exercise of a $45 million option granted to initial purchasers. The net proceeds of around $333 million, after the deduction of expenses and commissions, will be used for the development of its uranium projects.

Denison Mines Corp. (NYSE:DNN) is engaged in the exploration and development of uranium properties in Canada. The company holds interests in the Athabasca Basin, Wheeler River, Midwest Project, McClean Lake, and Waterbury Lake.

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Disclosure: None. This article is originally published at Insider Monkey.