What Do Analysts Think About Denison Mines Corp. (DNN)?

Denison Mines Corp. (NYSE:DNN) is one of the best strong buy stocks to invest in under $5. Denison Mines Corp. (NYSE:DNN) received a rating update from Raymond James on January 14, with the firm lifting the price target on the stock to C$5.05 from C$4.30 while maintaining an Outperform rating on the shares. The firm told investors that the price target change is a part of the firm’s mining update, and that it continues to favor copper in the base metals complex, expecting growing deficits in the medium to long term.

The rating update came after Denison Mines Corp. (NYSE:DNN) announced on January 8 the availability of grid power supply from Saskatchewan Power Corporation at the site of the future Phoenix in-situ recovery uranium mine after the recent installation of a new 138kV transmission line. Management stated that the availability of grid power at the Phoenix site marks a critical step in de-risking the execution of the Project, with the electrification of the site on the crucial path of activities planned for the first year of construction and supporting the establishment of the freeze wall planned to surround the initial mining area.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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