Denison Mines Corp.

NYSEAM:DNN Stock Report

Market Cap: US$2.1b

Denison Mines Valuation

Is DNN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DNN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DNN ($2.28) is trading above our estimate of fair value ($1.24)

Significantly Below Fair Value: DNN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DNN?

Key metric: As DNN barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for DNN. This is calculated by dividing DNN's market cap by their current book value.
What is DNN's PB Ratio?
PB Ratio4.9x
BookCA$584.91m
Market CapCA$2.94b

Price to Book Ratio vs Peers

How does DNN's PB Ratio compare to its peers?

The above table shows the PB ratio for DNN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average5.4x
NRP Natural Resource Partners
2.7xn/aUS$1.4b
LEU Centrus Energy
16.1x-22.8%US$1.1b
BTU Peabody Energy
0.9x-7.7%US$3.2b
ARLP Alliance Resource Partners
1.9x-7.2%US$3.5b
DNN Denison Mines
4.9x22.8%US$2.9b

Price-To-Book vs Peers: DNN is good value based on its Price-To-Book Ratio (4.9x) compared to the peer average (5.4x).

Price to Book Ratio vs Industry

How does DNN's PB Ratio compare vs other companies in the US Oil and Gas Industry?

8 CompaniesPrice / BookEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.06xn/aUS$10.27m
VTNR.Q Vertex Energy
0.06xn/aUS$6.99m
FECO.F FEC Resources
0.2xn/aUS$1.46m
VELX.Q Canadian Overseas Petroleum
0.05xn/aUS$1.10m
DNN 4.9xIndustry Avg. 1.5xNo. of Companies26PB012345+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: DNN is expensive based on its Price-To-Book Ratio (4.9x) compared to the US Oil and Gas industry average (1.5x).

Price to Book Ratio vs Fair Ratio

What is DNN's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DNN PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio4.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate DNN's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DNN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$2.28
US$3.00
+31.8%
30.6%US$5.75US$2.16n/a11
Nov ’25US$2.08
US$3.04
+46.0%
31.7%US$5.94US$2.23n/a11
Oct ’25US$1.90
US$3.01
+58.3%
32.2%US$5.94US$2.23n/a11
Sep ’25US$1.67
US$3.11
+86.1%
33.3%US$5.92US$2.18n/a9
Aug ’25US$1.76
US$3.01
+71.0%
34.8%US$5.90US$2.17n/a9
Jul ’25US$2.05
US$3.17
+54.5%
34.1%US$5.90US$2.19n/a8
Jun ’25US$2.42
US$3.17
+30.8%
34.1%US$5.90US$2.20n/a8
May ’25US$2.04
US$3.17
+55.3%
34.1%US$5.90US$2.20n/a8
Apr ’25US$2.07
US$3.11
+50.2%
35.9%US$5.90US$2.21n/a8
Mar ’25US$1.92
US$3.06
+59.6%
37.8%US$5.90US$1.84n/a8
Feb ’25US$2.14
US$2.79
+30.5%
33.6%US$5.01US$1.86n/a8
Jan ’25US$1.77
US$2.65
+50.0%
35.5%US$4.90US$1.84n/a8
Dec ’24US$1.80
US$2.61
+45.3%
37.2%US$4.90US$1.67n/a8
Nov ’24US$1.63
US$2.63
+61.1%
36.8%US$4.90US$1.69US$2.088
Oct ’24US$1.65
US$2.41
+46.1%
35.3%US$4.56US$1.70US$1.908
Sep ’24US$1.41
US$2.27
+61.3%
41.1%US$4.56US$1.25US$1.678
Aug ’24US$1.28
US$2.27
+77.4%
41.3%US$4.56US$1.25US$1.768
Jul ’24US$1.25
US$2.27
+81.6%
41.3%US$4.56US$1.25US$2.058
Jun ’24US$1.16
US$2.10
+80.7%
36.7%US$3.90US$1.11US$2.428
May ’24US$1.03
US$2.09
+102.9%
37.0%US$3.90US$1.11US$2.048
Apr ’24US$1.09
US$2.07
+89.8%
40.3%US$3.93US$1.11US$2.077
Mar ’24US$1.33
US$2.09
+57.1%
39.1%US$3.93US$1.19US$1.927
Feb ’24US$1.50
US$2.09
+39.4%
39.0%US$3.93US$1.20US$2.147
Jan ’24US$1.15
US$2.07
+79.8%
38.4%US$3.84US$1.18US$1.777
Dec ’23US$1.19
US$2.08
+74.6%
39.6%US$3.92US$1.12US$1.807
Nov ’23US$1.22
US$2.07
+69.6%
39.6%US$3.88US$1.09US$1.637

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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