$DNN

Denison Mines (DNN) and NexGen Energy (NXE) are uranium developers focused on construction. Denison's Phoenix project has a C$700 million budget, with first production targeted for mid-2028. NexGen has a larger market cap. Both companies face risks related to construction, financing, and uranium prices.

Denison Mines stock rose 5.1% as uranium prices near six-month highs, driving a sector-wide rally. Peers Cameco and NexGen Energy also gained. Analysts maintain a Buy rating with upside potential. Uranium futures traded around $89.70-$89.95/lb, up 10% year-over-year. The TSX and U.S. indices also rose, supporting risk-on sentiment. Denison's stock reached CA$4.01, above its 52-week low of CA$3.12.

F3 Uranium Corp. (TSXV: FUU) will issue 797,872 common shares and pay $225,000 to Denison Mines Corp. (TSX: DML) to settle accrued interest under a 2023 financing agreement. The shares have a deemed price of $0.141, based on the 20-day VWAP. The debenture has a 9% coupon, matures in 2028, and is convertible at $0.56 per share. The transaction requires TSX-V approval and is subject to a hold period.

The U.S. Department of Energy's Nuclear Dominance 3×33 campaign highlights a uranium supply gap. Three U.S.-listed uranium miners—Uranium Energy (UEC), Denison Mines (DNN), and NexGen Energy (NXE)—are profiled. UEC is producing uranium, DNN is developing the Phoenix mine, and NXE has a large deposit but no revenue. All are speculative investments with varying risks and potential.

Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) has started a summer drilling program at its Darby uranium project, a joint venture with Denison Mines Corp. (TSX: DML) (NYSE American: DNN). The program will drill up to 2,500 metres, targeting the Gamma and Bravo trends. Darby is located near Cameco’s Cigar Lake Mine. Cosa holds a 70% interest, with Denison holding 30%.

Cosa Resources Corp. (TSXV: COSA) reported summer drilling results from its Murphy Lake North uranium project, a joint venture with Denison Mines Corp. (TSX: DML). All 13 drill holes intersected strong structure and/or alteration, with elevated radioactivity. The company has $16 million in treasury for future drilling. The project is located near IsoEnergy’s Hurricane Deposit in the Athabasca Basin.

Energy Fuels Inc (8.7%), Southern Cross Gold (8.5%), and Denison Mines (8.0%) led TSX gains, driven by uranium and mining sector momentum. Scotiabank also rose 6.9% after beating earnings expectations. Uranium stocks benefited from revenue growth forecasts and sector sentiment, while Scotiabank's gain was attributed to strong Q3 results.

Denison Mines (TSX:DML, NYSE American:DNN) filed Q2 2026 financial results and MD&A. It said Phoenix ISR site preparation began in March 2026, with over 20% of site civil work completed by end-July and key concrete and freeze-wall milestones on track. In Q2, it sold 750,000 lb U3O8 at $122.16/lb, generating $91.6m proceeds and a $64.1m, 233% gain.

Denison Mines (DNN) shares rose about 3% to around $3.07, supported by improving uranium market sentiment. The company said it moved Phoenix in-situ recovery uranium project in Saskatchewan from site preparation to full-scale construction, including freeze wall and power work. RBC initiated coverage with an Outperform rating and a C$6 target.

Denison Mines began full construction of its Phoenix uranium project in northern Saskatchewan, starting installation of the first perimeter freeze wall. Denison expects first production from Canada’s first commercial in-situ recovery mine in mid-2028. The $700 million project targets ~9 million lb U3O8/year at peak, with 56.7 million lb reserves. Denison shares fell 4.9% to C$3.91.