Denison Taps Wood Canada to Manage Construction of Phoenix Uranium Mine
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Denison Mines ( (TSE:DML) ) just unveiled an update.
Denison Mines has awarded Wood Canada Limited the construction management contract for its Phoenix in-situ recovery uranium mine at the Wheeler River project in northern Saskatchewan, following a competitive tender process. Wood, which co-authored the 2023 feasibility study and led detailed design, will oversee processing plant construction, certain site infrastructure, and integrated project controls in close collaboration with Denison.
The agreement marks a key milestone as Denison prepares for a final investment decision and the start of construction, pending remaining federal permits for site preparation and mine and mill construction. By retaining Wood from engineering through execution, Denison aims to ensure continuity, safety, and predictable delivery over an estimated 24-month build, strengthening its position to bring one of the world’s potentially lowest-cost uranium projects into production.
The most recent analyst rating on (TSE:DML) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Denison Mines stock, see the TSE:DML Stock Forecast page.
Spark’s Take on TSE:DML Stock
According to Spark, TipRanks’ AI Analyst, TSE:DML is a Neutral.
The score is weighed down primarily by weak financial performance—heavy losses, persistently negative operating/free cash flow, and higher leverage despite an equity cushion. Technicals are a partial offset with a strong uptrend, but overbought readings elevate near-term downside risk. Valuation also detracts due to a negative P/E and no dividend yield provided.
To see Spark’s full report on TSE:DML stock, click here.
More about Denison Mines
Denison Mines Corp. is a Canadian uranium exploration and development company focused on advancing the Wheeler River project in the infrastructure-rich eastern Athabasca Basin in northern Saskatchewan. The project includes the high-grade Phoenix in-situ recovery uranium deposit and the Gryphon underground deposit, which studies suggest could rank among the lowest-cost uranium mining operations globally.
YTD Price Performance: 41.76%
Average Trading Volume: 3,711,479
Technical Sentiment Signal: Buy
Current Market Cap: C$4.63B
Find detailed analytics on DML stock on TipRanks’ Stock Analysis page.
