Is Denison Mines Corp. (DNN) one of the Best Penny Stocks to Buy According to Hedge Funds?

Denison Mines Corp. (NYSE:DNN) is one of the best penny stocks to buy according to hedge funds. On October 2, Desjardins analyst Bryce Adams reiterated a bullish stance on Denison Mines Corp. (NYSE:DNN), giving the stock a Buy rating with a C$5.00 price target.

In its fiscal Q2 2025 results, Denison Mines Corp. (NYSE:DNN) announced the first production at McClean Lake North using SABRE MininG.

In addition, Denison Mines Corp. (NYSE:DNN) obtained provincial approval of environmental assessment for Wheeler River, while also attaining around 80% completion of total engineering for Phoenix.

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

While we acknowledge the potential of DNN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, 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.