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Uranium Stocks was created to give investors a diversified look at uranium shares, spot prices, options markets, ore and production, canadian reverses and any other relevant issues that may affect shares prices across the globe.
Denison Beaten Down to a 52 Week Low
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Denison Beaten Down to a 52 Week Low
Denison Mines hit an all-time low on its american traded shares DNN (Amex) and was just six cents off of a near five year low on their Canadian traded shares DML (TSX). Following the American traded DNN, the shares 52 week range is a low of $1.87 on yesterdays close to an adjusted high of $8.86.
Here is a chart outlining the America side decline since inception. Do keep in mind that this chart does not take into account the semi-recent split.
When searching the TSX and Yahoo Finance Denison has not released any news since September 18th. This stock, while having no problem dropping on its own of late, is one of many metal plays swept up in the recent sector downtrend.
With no free cash flow, a negative ROIC (return on invested capital) and shrinking margins it is difficult to get behind Denison. It will be interesting to see if these shares can bounce back when (maybe if) the markets begin to improve.
Options traders do remain relatively optimistic, with 2.50 strike levels trading at around the $0.80 level for April 2009 contracts.