Denison Mines (DNN) Jumps on Strong Optimism for Uranium, Nuclear

We recently published Massive Gains: 10 Stocks Investors Can’t Stop Buying. Denison Mines Corp. (NYSEAmerican:DNN) is one of the top performers on Thursday’.

Shares of Denison Mines grew by 4 percent on Thursday to close at $2.86 apiece as investors loaded positions amid renewed optimism for the uranium and nuclear industries.

During the session, a hefty 97 million shares changed hands.

Earlier this week, technology giants Nvidia Corp., Alibaba Group, and OpenAI announced a wave of billion-dollar investments that bolstered rosy prospects for the nuclear industry.

Denison Mines Corp. (NYSEAmerican:DNN), for its part, stands to benefit from the expected stronger demand for power, as its uranium products are crucial in fueling nuclear power plants for AI companies such as data centers that require a massive amount of electricity.

To support its expansion plans, the company last month successfully raised $345 million in fresh funds from the issuance of convertible notes due 2031.

Proceeds from the offer will be used for the development of its flagship Phoenix In-Situ Recovery uranium mine in northern Saskatchewan, Canada, while the balance will be used for future investment decisions.

While we acknowledge the potential of DNN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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