Denison Mines Corp. (NYSEAMERICAN:DNN) is among the best fundamentally strong penny stocks to buy according to analysts. On December 17, Denison Mines Corp. (NYSEAMERICAN:DNN) announced the completion of a previously disclosed transaction with Skyharbour Resources Ltd., and the formation of four joint ventures from claims that previously comprised Skyharbour’s Russell Lake Uranium Project, which is located directly adjacent to the company’s flagship Wheeler River Project in Saskatchewan’s Athabasca Basin region.
According to a statement by Denison Mines Corp. (NYSEAMERICAN:DNN),
“The new joint ventures are designed to drive collaboration between Denison and Skyharbour’s technical teams and to accelerate the evaluation of the prospective exploration ground adjacent to and proximal to Wheeler River.”
Additionally, both entities have signed option agreements (the “Earn-In Option Agreements”), allowing Denison Mines Corp. (NYSEAMERICAN:DNN) to increase its stake in both Wheeler North and Getty East joint ventures, with each ownership interest going as high as 70%.
Earlier on December 4, Denison Mines Corp. (NYSEAMERICAN:DNN) entered into an Impact Benefit Agreement and Exploration Agreement with Métis Nation-Saskatchewan and associated regional organizations. The collaboration mainly incorporates environmental monitoring prospects, business development opportunities, and community investment opportunities.
Overall, Denison Mines Corp. (NYSEAMERICAN:DNN) is a consensus buy from all eleven analysts covering the stock. While the price target ranges from $3 to $4.80, the consensus 1-year median price target of $3.45 translates to an upside potential of 25.73%.
Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canadian company specializing in uranium-bearing properties. Founded in 1954, the company has a 95% interest in its flagship Wheeler River uranium project.
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