Denison Mines (DNN)
Market Price (7/9/2026): $3.1 | Market Cap: $2.8 BilSector: Energy | Industry: Coal & Consumable Fuels
Denison Mines (DNN)
Market Price (7/9/2026): $3.1Market Cap: $2.8 BilSector: EnergyIndustry: Coal & Consumable Fuels
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Datacenter Power, and Energy Transition & Decarbonization. Themes include Mini Nuclear, and Nuclear Power. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -87 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1864% Expensive valuation multiplesP/SPrice/Sales ratio is 604x Weak revenue growthRev Chg QQuarterly Revenue Change % is -20% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 114% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1867%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3127% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% Key risksDNN key risks include [1] development and regulatory execution hurdles for its flagship Wheeler River project, Show more. |
| Megatrend and thematic driversMegatrends include Datacenter Power, and Energy Transition & Decarbonization. Themes include Mini Nuclear, and Nuclear Power. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -87 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1864% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 604x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -20% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 114% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1867%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3127% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% |
| Key risksDNN key risks include [1] development and regulatory execution hurdles for its flagship Wheeler River project, Show more. |
Qualitative Assessment
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Denison Mines (DNN) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Macroeconomic Factor: Uranium Spot Price Consolidation.The uranium spot price experienced a period of consolidation and short-term weakness during fiscal Q2 2026, remaining largely within the US$84 to US$87 per pound range. This followed a significant rally in fiscal Q1 2026 where prices had surpassed US$101 per pound in January 2026. This moderation in the spot market, despite a long-term bullish outlook for uranium, likely dampened investor enthusiasm for uranium mining stocks, contributing to Denison Mines' stock decline.
2. Company-Specific Factor: Increased Capital Cost for Phoenix Project.Denison Mines updated the initial capital cost estimate for its flagship Phoenix In-Situ Recovery (ISR) uranium mine to approximately C$600 million in January 2026. This revised estimate, which accounts for inflationary pressures and project refinements, represents a higher upfront investment compared to earlier projections and could have been perceived negatively by investors.
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Denison Mines (DNN) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Macroeconomic Factor: Uranium Spot Price Consolidation.The uranium spot price experienced a period of consolidation and short-term weakness during fiscal Q2 2026, remaining largely within the US$84 to US$87 per pound range. This followed a significant rally in fiscal Q1 2026 where prices had surpassed US$101 per pound in January 2026. This moderation in the spot market, despite a long-term bullish outlook for uranium, likely dampened investor enthusiasm for uranium mining stocks, contributing to Denison Mines' stock decline.
2. Company-Specific Factor: Increased Capital Cost for Phoenix Project.Denison Mines updated the initial capital cost estimate for its flagship Phoenix In-Situ Recovery (ISR) uranium mine to approximately C$600 million in January 2026. This revised estimate, which accounts for inflationary pressures and project refinements, represents a higher upfront investment compared to earlier projections and could have been perceived negatively by investors.
3. Macroeconomic Factor: Increased Global Uranium Production.The anticipated return of KATCO, a significant uranium producer in Kazakhstan, to its full production capacity of 4,000 tonnes per year through 2026, introduced a notable increase in global primary uranium supply. This development, characterized as "structurally significant" and "not a straightforwardly bullish one for price," could have contributed to market perceptions of increased supply, thereby exerting downward pressure on uranium prices and impacting sentiment for uranium development companies like Denison Mines.
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Stock Movement Drivers
Fundamental Drivers
The -11.9% change in DNN stock from 3/31/2026 to 7/8/2026 was primarily driven by a -6.2% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.53 | 3.11 | -11.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | -5.5% |
| P/S Multiple | 644.4 | 604.1 | -6.2% |
| Shares Outstanding (Mil) | 898 | 903 | -0.6% |
| Cumulative Contribution | -11.9% |
Market Drivers
3/31/2026 to 7/8/2026| Return | Correlation | |
|---|---|---|
| DNN | -11.9% | |
| Market (SPY) | 14.6% | 59.3% |
| Sector (XLE) | -9.2% | -28.6% |
Fundamental Drivers
The 16.9% change in DNN stock from 12/31/2025 to 7/8/2026 was primarily driven by a 23.3% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.66 | 3.11 | 16.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | -4.5% |
| P/S Multiple | 490.1 | 604.1 | 23.3% |
| Shares Outstanding (Mil) | 897 | 903 | -0.7% |
| Cumulative Contribution | 16.9% |
Market Drivers
12/31/2025 to 7/8/2026| Return | Correlation | |
|---|---|---|
| DNN | 16.9% | |
| Market (SPY) | 9.6% | 46.3% |
| Sector (XLE) | 25.2% | -1.4% |
Fundamental Drivers
The 70.9% change in DNN stock from 6/30/2025 to 7/8/2026 was primarily driven by a 69.2% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.82 | 3.11 | 70.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | 1.8% |
| P/S Multiple | 357.1 | 604.1 | 69.2% |
| Shares Outstanding (Mil) | 896 | 903 | -0.8% |
| Cumulative Contribution | 70.9% |
Market Drivers
6/30/2025 to 7/8/2026| Return | Correlation | |
|---|---|---|
| DNN | 70.9% | |
| Market (SPY) | 21.7% | 40.9% |
| Sector (XLE) | 34.2% | -4.2% |
Fundamental Drivers
The 148.8% change in DNN stock from 6/30/2023 to 7/8/2026 was primarily driven by a 124.4% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.25 | 3.11 | 148.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 5 | 20.3% |
| P/S Multiple | 269.3 | 604.1 | 124.4% |
| Shares Outstanding (Mil) | 833 | 903 | -7.8% |
| Cumulative Contribution | 148.8% |
Market Drivers
6/30/2023 to 7/8/2026| Return | Correlation | |
|---|---|---|
| DNN | 148.8% | |
| Market (SPY) | 74.1% | 37.5% |
| Sector (XLE) | 49.7% | 18.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DNN Return | 112% | -16% | 54% | 2% | 48% | 18% | 387% |
| Peers Return | 69% | -1% | 53% | -7% | 79% | -6% | 299% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| DNN Win Rate | 58% | 42% | 58% | 58% | 75% | 57% | |
| Peers Win Rate | 63% | 45% | 62% | 52% | 65% | 31% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| DNN Max Drawdown | -39% | -47% | -35% | -40% | -45% | -35% | |
| Peers Max Drawdown | -38% | -47% | -33% | -44% | -48% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CCJ, NXE, UEC, UUUU, URG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/8/2026 (YTD)
How Low Can It Go
| Event | DNN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.1% | -18.8% |
| % Gain to Breakeven | 39.1% | 23.1% |
| Time to Breakeven | 45 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -33.9% | -7.8% |
| % Gain to Breakeven | 51.4% | 8.5% |
| Time to Breakeven | 70 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.8% | -6.7% |
| % Gain to Breakeven | 36.7% | 7.1% |
| Time to Breakeven | 138 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.7% | -24.5% |
| % Gain to Breakeven | 60.6% | 32.4% |
| Time to Breakeven | 434 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.1% | -33.7% |
| % Gain to Breakeven | 89.0% | 50.9% |
| Time to Breakeven | 33 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.3% | -19.2% |
| % Gain to Breakeven | 47.8% | 23.8% |
| Time to Breakeven | 735 days | 105 days |
In The Past
Denison Mines's stock fell -28.1% during the 2025 US Tariff Shock. Such a loss loss requires a 39.1% gain to breakeven.
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| Event | DNN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.1% | -18.8% |
| % Gain to Breakeven | 39.1% | 23.1% |
| Time to Breakeven | 45 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -33.9% | -7.8% |
| % Gain to Breakeven | 51.4% | 8.5% |
| Time to Breakeven | 70 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.8% | -6.7% |
| % Gain to Breakeven | 36.7% | 7.1% |
| Time to Breakeven | 138 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.7% | -24.5% |
| % Gain to Breakeven | 60.6% | 32.4% |
| Time to Breakeven | 434 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.1% | -33.7% |
| % Gain to Breakeven | 89.0% | 50.9% |
| Time to Breakeven | 33 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.3% | -19.2% |
| % Gain to Breakeven | 47.8% | 23.8% |
| Time to Breakeven | 735 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.1% | -3.7% |
| % Gain to Breakeven | 28.4% | 3.9% |
| Time to Breakeven | 14 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -31.1% | -12.2% |
| % Gain to Breakeven | 45.0% | 13.9% |
| Time to Breakeven | 99 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -74.0% | -6.8% |
| % Gain to Breakeven | 284.7% | 7.3% |
| Time to Breakeven | 1896 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -56.3% | -17.9% |
| % Gain to Breakeven | 128.7% | 21.8% |
| Time to Breakeven | 3668 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -33.5% | -15.4% |
| % Gain to Breakeven | 50.5% | 18.2% |
| Time to Breakeven | 71 days | 125 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -40.6% | -8.6% |
| % Gain to Breakeven | 68.5% | 9.5% |
| Time to Breakeven | 74 days | 47 days |
In The Past
Denison Mines's stock fell -28.1% during the 2025 US Tariff Shock. Such a loss loss requires a 39.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Denison Mines (DNN)
Denison Mines Corp. (DNN) is a Canadian company specializing in the uranium industry. Its business encompasses the full spectrum of uranium project development, including the acquisition, exploration, development, extraction, processing, and eventual sale of uranium. The company focuses exclusively on uranium properties located within Canada, leveraging the country's rich natural resources.
The primary product associated with Denison Mines' operations is uranium itself, a critical fuel source for nuclear power generation worldwide. Its flagship asset is the 95% owned Wheeler River uranium project, situated in the highly prospective Athabasca Basin region of northern Saskatchewan. Denison Mines serves the global energy market, with its primary customers being utility companies that operate nuclear reactors, as well as governmental bodies and other organizations requiring uranium for power production.
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Here are 1-3 brief analogies for Denison Mines (DNN):
- Cameco, but focused on future uranium production. (Cameco is the world's largest publicly traded uranium company.)
- The Barrick Gold of uranium exploration and development. (Barrick Gold is a major, well-known gold mining company.)
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- Uranium: Denison Mines engages in the acquisition, exploration, development, extraction, processing, and selling of uranium, primarily from its Wheeler River project in Canada.
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- Wood PLC (LON:WG)
- Stantec Inc. (TSX:STN)
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David Cates, President & Chief Executive Officer
Mr. Cates was appointed President & CEO of Denison in 2015, having previously served as the company's Vice President, Finance & Tax and Chief Financial Officer. Prior to joining Denison in 2008, Mr. Cates held positions at Kinross Gold Corp. and PwC LLP. He is a Chartered Professional Accountant (CPA, CA) and holds Master of Accounting (MAcc) and Honours Bachelor of Arts (BA) degrees from the University of Waterloo. Mr. Cates possesses extensive expertise in the Canadian and international uranium mining industry from over a decade of senior management and financial experience in various roles with Denison. He also serves as a Director of Denison, SkyHarbour Resources Ltd. (TSX-V: SYH), Foremost Clean Energy Ltd. (NASDAQ: FMST; CSE: FAT), and the Canadian Nuclear Association.
Elizabeth Sidle, Vice President Finance & Chief Financial Officer
Ms. Sidle joined Denison in 2016 and advanced to the position of Vice President Finance in September 2021. She was appointed Chief Financial Officer in December 2023. Before joining Denison, Ms. Sidle held various roles at Ernst & Young LLP, including serving in the firm's National Accounting and Assurance Group, where she advised on complex financial accounting issues and transactions.
Kevin Himbeault, Vice President Operations & Regulatory Affairs
Mr. Himbeault joined Denison Mines in 2021 and was appointed Vice President of Plant Operations & Regulatory Affairs in January 2022. He brings significant operational and regulatory experience, with over 25 years of diverse involvement in the mining industry through consulting and operations management. During his 18-year career with Cameco Corporation, Mr. Himbeault led the Key Lake Operation through multiple relicensing processes and spearheaded the development and approval of the environmental assessment for the Key Lake Extension Project. He held the position of Operations Manager at the Key Lake mill, where his responsibilities included senior management leadership for plant operations (including uranium processing, site infrastructure services, maintenance, and automation initiatives), as well as oversight of safety, health, quality, and radiation protection programs. Mr. Himbeault holds a Master of Science (MSc) degree in Toxicology from the University of Saskatchewan.
Amanda Willett, Vice President Legal and Corporate Secretary
Ms. Willett joined Denison and Uranium Participation Corporation in 2016. Prior to that, she was a securities law associate at Blake, Cassels & Graydon LLP in Vancouver since 2011, and previously a corporate and securities law associate with Stikeman Elliott LLP in Toronto.
Michael Schoonderwoerd, Vice President Controller
Mr. Schoonderwoerd was appointed Vice President Controller of Denison on January 1, 2013. He joined Denison as Corporate Controller in August 2004.
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Key Risks for Denison Mines (DNN)
- Project Execution and Regulatory Approval for Wheeler River: Denison Mines is a development-stage company, and its future is heavily reliant on the successful and timely development of its flagship Wheeler River project, particularly the Phoenix In-Situ Recovery (ISR) mine. This includes obtaining the necessary federal license from the Canadian Nuclear Safety Commission (CNSC) and managing technical and operational uncertainties associated with the ISR method, such as the use of a freeze fence. Delays in regulatory approval or execution could significantly impact the company's transition to a major producer.
- Financial Stability and Capital-Intensive Operations: As a pre-production company, Denison Mines has consistently operated at a net loss, directing significant capital into its ISR projects. While the company maintains a strong balance sheet and has raised substantial capital, it remains a capital-intensive business that is not yet cash-flow positive. Analysts anticipate continued unprofitability over the next three years. This necessitates careful management of financial constraints, rising costs, and strategic adjustments to ensure long-term viability.
- Uranium Price Volatility and Market Dynamics: The company's long-term success is tied to the global demand for uranium, driven by the nuclear energy sector. However, fluctuations in uranium prices and broader market shifts in the energy sector pose a significant risk. Forecasts of declining uranium prices could lead to overly optimistic revenue projections. The company must adapt to evolving environmental demands, consumer needs, and overall market dynamics, including potential impacts from international sanctions.
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Denison Mines Corp. (DNN) is expected to experience significant revenue growth over the next 2-3 years, driven primarily by the commencement of uranium production from its flagship Phoenix In-Situ Recovery (ISR) project, contributions from other strategic uranium holdings, and a robust global uranium market.
Here are the key drivers of future revenue growth:
-
Commencement of Production at the Phoenix ISR Uranium Mine: Denison Mines has made a final investment decision and plans to begin construction of its Phoenix In-Situ Recovery (ISR) uranium mine at the Wheeler River project in March 2026. This project is targeted to achieve first uranium production by mid-2028, positioning Denison to become a significant new Canadian uranium producer. The Phoenix project is anticipated to be the first uranium ISR mining operation in the Athabasca Basin region and the first new large-scale Canadian uranium mine in over two decades.
-
Increased Production from McClean Lake Joint Venture's McClean North Deposit: Mining at the McClean North deposit, which is part of Denison's 22.5% owned McClean Lake Joint Venture, commenced in mid-2025 using the Surface Access Borehole Resource Extraction (SABRE) method. This initiative represents an earlier source of production that will contribute to revenue growth as operations ramp up.
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Favorable Uranium Market Conditions: The global uranium market is experiencing a significant strengthening, characterized by structural supply deficits and inelastic demand, which is expected to intensify further. Long-term uranium prices reached approximately US$86 per pound in 2025, marking the highest level in over 16 years. The increasing recognition of nuclear power as a vital component of global decarbonization efforts is creating a durable demand floor for uranium, allowing Denison Mines to capitalize on future price appreciation.
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Strategic Uranium Holdings and Investments: Denison Mines maintains a strong financial position, including holding 2.2 million pounds of physical uranium. Additionally, the company holds ownership interests in various other uranium properties and joint ventures, such as the McClean Lake Joint Venture, the Midwest Joint Venture, and deposits on the Waterbury Lake Property, along with interests in the Millennium and Kiggavik projects through its 50% ownership of JCU (Canada) Exploration Company Limited. These diversified holdings and investments provide further leverage to a strengthening uranium market and potential for additional revenue streams.
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Share Issuance
- Denison Mines completed a US$345 million Convertible Senior Notes offering in August 2025.
- The offering was recorded as a $612,164,000 liability.
- The net proceeds of approximately US$333 million (after capped call transactions) are intended to fund the evaluation and development of uranium projects, including the Phoenix ISR operation.
Inbound Investments
- In 2025, Denison secured US$345 million in financing through a placement of U.S. style senior convertible notes with a capped call overlay.
Outbound Investments
- In January 2025, Denison entered an agreement with Cosa Resources Corp. (Cosa), resulting in Cosa acquiring a 70% interest in three of Denison's properties. Denison received approximately 14.2 million Cosa common shares, $2.25 million in deferred equity, and a commitment for $6.5 million in exploration expenditures on the properties, making Denison Cosa's largest shareholder with approximately 19.95% ownership.
- In December 2025, Denison completed a transaction with Skyharbour Resources Ltd. (Skyharbour) to acquire initial interests in claims comprising Skyharbour's Russell Lake Uranium Project, obtaining initial ownership interests of 20%, 30%, 49%, and 70% in four new property joint ventures. This deal is anticipated to provide up to $61.5 million in value to Skyharbour through funded exploration, cash, and shares.
Capital Expenditures
- Denison continued to make significant investments in its assets in 2025, notably its flagship Phoenix project.
- Initial capital costs for the Phoenix In-Situ Recovery (ISR) uranium mine are estimated at $600 million, an increase of 43% from the 2023 feasibility study's estimate of $419.4 million, due to inflation, cost increases, improved estimate precision, and project refinements. Construction is planned to commence in March 2026, with first production targeted by mid-2028.
- As of Q3 2025, approximately $27 million in initial capital expenditures had been incurred for the Phoenix project, with an additional ~$44 million committed. Total pre-Final Investment Decision expenditures are projected to reach $100 million.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.55 |
| Mkt Cap | 4.0 |
| Rev LTM | 26 |
| Op Inc LTM | -88 |
| FCF LTM | -119 |
| FCF 3Y Avg | -82 |
| CFO LTM | -62 |
| CFO 3Y Avg | -48 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.8% |
| Rev Chg 3Y Avg | 18.3% |
| Rev Chg Q | 7.1% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | -25.7% |
| Op Inc Chg 3Y Avg | -39.1% |
| Op Mgn LTM | -237.3% |
| Op Mgn 3Y Avg | -268.3% |
| QoQ Delta Op Mgn LTM | -1.0% |
| CFO/Rev LTM | -200.5% |
| CFO/Rev 3Y Avg | -220.9% |
| FCF/Rev LTM | -303.5% |
| FCF/Rev 3Y Avg | -273.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mining | 5 | 4 | 2 | 9 | 3 |
| Corporate and Other | 0 | 0 | 0 | 0 | 8 |
| Closed Mine Services | 9 | ||||
| Total | 5 | 4 | 2 | 9 | 20 |
| $ Mil | 2018 | 2017 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Dension environmental services | 1 | 1 | |||
| Corporate and Other | -5 | -6 | |||
| Mining | -19 | -18 | -26 | -16 | -19 |
| Services and Other | -2 | -5 | -8 | ||
| Total | -23 | -23 | -28 | -22 | -26 |
Price Behavior
| Market Price | $3.11 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 02/09/2005 | |
| Distance from 52W High | -28.8% | |
| 50 Days | 200 Days | |
| DMA Price | $3.33 | $3.28 |
| DMA Trend | up | down |
| Distance from DMA | -6.6% | -5.2% |
| 3M | 1YR | |
| Volatility | 58.0% | 60.1% |
| Downside Capture | 383.19 | 201.87 |
| Upside Capture | 185.51 | 226.74 |
| Correlation (SPY) | 58.5% | 41.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.72 | 2.65 | 2.56 | 2.15 | 1.96 | 1.42 |
| Up Beta | 2.79 | 2.71 | 2.19 | 1.58 | 1.60 | 1.23 |
| Down Beta | 2.40 | 2.52 | 2.54 | 2.16 | 1.64 | 1.40 |
| Up Capture | 237% | 159% | 187% | 322% | 445% | 485% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 9 | 19 | 31 | 64 | 130 | 358 |
| Down Capture | 295% | 323% | 338% | 193% | 158% | 109% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 11 | 20 | 29 | 56 | 107 | 333 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNN | |
|---|---|---|---|---|
| DNN | 72.2% | 60.2% | 1.13 | - |
| Sector ETF (XLE) | 32.2% | 20.9% | 1.23 | -4.4% |
| Equity (SPY) | 21.2% | 12.5% | 1.26 | 40.9% |
| Gold (GLD) | 21.9% | 27.8% | 0.70 | 48.2% |
| Commodities (DBC) | 25.0% | 18.7% | 1.06 | 6.9% |
| Real Estate (VNQ) | 12.7% | 13.9% | 0.62 | 6.1% |
| Bitcoin (BTCUSD) | -41.4% | 42.8% | -1.13 | 31.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNN | |
|---|---|---|---|---|
| DNN | 20.6% | 63.4% | 0.55 | - |
| Sector ETF (XLE) | 20.0% | 25.9% | 0.69 | 33.9% |
| Equity (SPY) | 13.2% | 17.1% | 0.60 | 43.1% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 28.4% |
| Commodities (DBC) | 7.8% | 19.5% | 0.30 | 27.8% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 24.9% |
| Bitcoin (BTCUSD) | 12.1% | 53.5% | 0.41 | 26.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNN | |
|---|---|---|---|---|
| DNN | 19.6% | 64.0% | 0.55 | - |
| Sector ETF (XLE) | 9.9% | 29.6% | 0.37 | 30.7% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 36.2% |
| Gold (GLD) | 11.5% | 16.1% | 0.58 | 20.0% |
| Commodities (DBC) | 6.4% | 18.0% | 0.28 | 26.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 21.8% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/30/2026 | 40-F |
| 09/30/2025 | 11/07/2025 | 6-K |
| 06/30/2025 | 08/08/2025 | 6-K |
| 03/31/2025 | 05/14/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/09/2024 | 6-K |
| 03/31/2024 | 05/09/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 40-F |
| 09/30/2023 | 11/09/2023 | 6-K |
| 06/30/2023 | 08/10/2023 | 6-K |
| 03/31/2023 | 05/11/2023 | 6-K |
| 12/31/2022 | 03/28/2023 | 40-F |
| 09/30/2022 | 11/04/2022 | 6-K |
| 06/30/2022 | 08/05/2022 | 6-K |
| 03/31/2022 | 05/05/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/30/2026 | 40-F |
| 09/30/2025 | 11/07/2025 | 6-K |
| 06/30/2025 | 08/08/2025 | 6-K |
| 03/31/2025 | 05/14/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/09/2024 | 6-K |
| 03/31/2024 | 05/09/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 40-F |
| 09/30/2023 | 11/09/2023 | 6-K |
| 06/30/2023 | 08/10/2023 | 6-K |
| 03/31/2023 | 05/11/2023 | 6-K |
| 12/31/2022 | 03/28/2023 | 40-F |
| 09/30/2022 | 11/04/2022 | 6-K |
| 06/30/2022 | 08/05/2022 | 6-K |
| 03/31/2022 | 05/05/2022 | 6-K |
| 09/30/2021 | 11/05/2021 | 6-K |
| 06/30/2021 | 08/06/2021 | 6-K |
| 03/31/2021 | 05/07/2021 | 6-K |
| 12/31/2020 | 03/29/2021 | 40-F |
| 09/30/2020 | 11/06/2020 | 6-K |
| 06/30/2020 | 08/07/2020 | 6-K |
| 03/31/2020 | 05/07/2020 | 6-K |
| 12/31/2019 | 03/13/2020 | 40-F |
| 09/30/2019 | 11/08/2019 | 6-K |
| 06/30/2019 | 08/09/2019 | 6-K |
| 03/31/2019 | 05/02/2019 | 6-K |
| 12/31/2018 | 03/08/2019 | 6-K |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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