Denison Mines (DNN) Moves Ahead With Phoenix Project, Roth Capital Raises PT

Denison Mines Corp. (NYSEAMERICAN:DNN) is one of the 12 Best Stocks Under $10 to Invest In Right Now. On February 24, Denison Mines Corp. (NYSEAMERICAN:DNN) reported that its  Board of Directors has made a Final Investment Decision to move forward with the construction of the Phoenix In-Situ Recovery uranium mine.

The company shared that for the Phoenix project, site preparation and construction activities are expected to begin in March 2026. Denison Mines Corp. (NYSEAMERICAN:DNN) expects the construction to take about two years. By starting in March 2026, the company aims to stay on track to achieve first production from the Phoenix project by mid-2028. According to the report, this will allow Denison Mines Corp. (NYSEAMERICAN:DNN) to become one of the few uranium suppliers globally who will be able to provide a significant new source of uranium production before the end of the decade.

Earlier, on February 18, Roth Capital raised its price target on Denison Mines Corp. (NYSEAMERICAN:DNN) from $3 to $4.25 and kept its Buy rating on the stock. This update came after the company announced the award of construction management contract to Wood Canada for the Phoenix Uranium Mine. Roth Capital believes this marks a major inflection point for the company.

Denison Mines Corp. (NYSEAMERICAN:DNN) is a uranium mining, development, and exploration company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada.

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