Valued on a market capitalization of $ 2.7 billion, Denison -mines (TSX: DML) is concerned with the acquisition, exploration and development of uranium -bearing properties in Canada. It has an interest of 95% in its flagship project, the Wheeler River Uranium project, located in the ATHABASCA Basin region in the north of Saskatchewan.
In the past five years, DML shares has given more than 300% back to shareholders, which surpasses the wider market with a considerable margin. Let’s see if the TSX shares is still a good buy at the moment.
Is Denison Mine a good stock to hold now?
Denison-Mijnen reported a remarkable progress on his flagship Phoenix Recovery Project during the first quarter, because the Canadian Nuclear Safety Commission (CNSC) critical public hearings for the end of 2025 plans that could take the path for construction to start at the beginning of 2026.
The uranium developer has reached around 75% completion of the total engineering for Phoenix and has already promised more than $ 74 million for long -term capital purchases, so that the company has positioned its guidance for the first production in mid -2028. If it is successful, Phoenix would become the first new large -scale uranium mine in the north of Saskatchewan, because Cigar Lake was put into use in 2014.
The CNSC has announced that public hearings for the Wheeler River Uranium project will be held in two parts on 8 October 2025, and between 8-12 December 2025, which represents the final step in the federal approval process for the environmental assessment and license to prepare and build an uranium mine and mill. This timeline supports Denison’s plan to start construction at the beginning of 2026 after expected approvals of the regulatory legislation.
CEO David Cates emphasized Denison’s strong financial position and noted that it has 2.2 million pounds of physical uranium, maintain a robust cash balance and has no debts. This financial strength enables the company to finance both pre-final investment decisions in Phoenix and future growth initiatives.
Denison also reported encouraging developments on his McClean Lake Joint Venture with Orano Canada, where the preparation activities of the site have resumed for the expected start of mining at the McClean North Deposit using the Patented Surface Restonce Resource.
Denison has actively expanded his exploration exposure through strategic partnerships. It is agreements concluded with COSA sources and especially clean energy, cooperation with exploring different non-core properties.
Early results are promising, with Cosa identified a two-kilometer extension of the hurricane trend in the Murphy Lake North building, while mainly reported a new uranium mineralization discovery to Hatchet Lake’s ownership. At company level, Denison strengthened his board with three new agreements during the quarter.
What is the target price for the TSX mining stock?
Analysts who follow Denison -expect that the turnover will increase from US $ 2.79 million in 2024 to US $ 637 million in 2029. Although Denison reported a loss per share of US $ 0.07 in 2024, it is predicted that adapted profit of US $ 0.31 would be rail.
The Uranium Mining Company is also expected to end 2029 with a free Cash flow of US $ 265 million, compared to an outflow of US $ 119 million in 2025.
If DML shares are priced at 15 times ahead in the profit, which is reasonable, this will be about US $ 4.65 per share in early 2029, indicating an upward potential of more than 100% compared to current levels. According to the consensus estimates, the TSX mini shares will act with a discount of 31%from July 2025.
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