Canaccord Hikes Denison Mines (DNN) PT to C$5 on Phoenix Project Construction Readiness, Strategic Expansion

21 hours ago 3

Maham Fatima

Thu, January 8, 2026 astatine 8:12 AM CST 2 min read

Denison Mines Corp. (NYSEAMERICAN:DNN) is 1 of the most buzzing stocks to put successful according to hedge funds. On January 5, Canaccord raised the firm’s terms people connected Denison Mines to C$5 from C$4.40, portion maintaining a Speculative Buy standing connected the shares.

In different news, connected December 17, Denison Mines announced the palmy closing of a transaction with Skyharbour Resources Ltd. This woody involves the enactment of 4 prospective exploration JVs utilizing claims from Skyharbour’s Russell Lake Uranium Project. These properties are located straight adjacent to Denison’s flagship Wheeler River Project successful the eastbound Athabasca Basin of bluish Saskatchewan.

Is Denison Mines Corp. (DNN) the Best Canadian Penny Stock to Invest successful Now?

The concern is structured to usage the method expertise of some companies crossed circumstantial onshore packages. Denison Mines Corp. (NYSEAMERICAN:DNN) volition enactment arsenic the relation for the Wheeler River Inliers (70% ownership) and Wheeler North (49% ownership) JVs. Conversely, Skyharbour volition pb operations for the Getty East (30% Denison interest) and Russell Lake/RL (20% Denison interest) JVs. Under recently established Earn-In Option Agreements, Denison maintains the close to summation its involvement successful some Wheeler North and Getty East to arsenic precocious arsenic 70%.

This enlargement coincides with large regulatory and operational milestones for Denison. In July 2025, the Province of Saskatchewan approved the Environmental Assessment for the Phoenix deposit, and successful December 2025, the Canadian Nuclear Safety Commission concluded nationalist hearings regarding national support and operation licenses. Additionally, Denison’s 22.5% involvement successful the McClean Lake JV saw the commencement of mining astatine the McClean North deposit successful July 2025 utilizing the innovative SABRE mining method.

Denison Mines Corp. (NYSEAMERICAN:DNN) acquires, explores, and develops uranium bearing properties successful Canada.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.