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Denison Mines

TSX:DML
Snowflake Description

Limited growth with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DML
TSX
CA$182M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Denison Mines Corp. operates as a uranium exploration and development company with focuses in the Athabasca Basin region of northern Saskatchewan, Canada. The last earnings update was 22 days ago. More info.


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  • Denison Mines has significant price volatility in the past 3 months.
DML Share Price and Events
7 Day Returns
-9.4%
TSX:DML
15.2%
CA Oil and Gas
11.4%
CA Market
1 Year Returns
-57.4%
TSX:DML
-41.5%
CA Oil and Gas
-22%
CA Market
DML Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Denison Mines (DML) -9.4% -36.3% -47.3% -57.4% -64.6% -71%
CA Oil and Gas 15.2% -37.6% -42.4% -41.5% -49.8% -53.6%
CA Market 11.4% -22.2% -23.5% -22% -19.8% -13.3%
1 Year Return vs Industry and Market
  • DML underperformed the Oil and Gas industry which returned -41.5% over the past year.
  • DML underperformed the Market in Canada which returned -22% over the past year.
Price Volatility
DML
Industry
5yr Volatility vs Market

DML Value

 Is Denison Mines undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Denison Mines to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Denison Mines.

TSX:DML Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:DML
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (0.55%))
0.885
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.885 * 5.44%)
6.26%

Discounted Cash Flow Calculation for TSX:DML using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Denison Mines is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:DML DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 6.26%)
2020 -10.30 Analyst x1 -9.69
2021 0.60 Analyst x1 0.53
2022 0.85 Est @ 41.55% 0.71
2023 1.10 Est @ 29.52% 0.86
2024 1.33 Est @ 21.09% 0.98
2025 1.53 Est @ 15.2% 1.07
2026 1.70 Est @ 11.07% 1.11
2027 1.84 Est @ 8.18% 1.13
2028 1.96 Est @ 6.16% 1.13
2029 2.05 Est @ 4.74% 1.12
Present value of next 10 years cash flows CA$-1.00
TSX:DML DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$2.05 × (1 + 1.44%) ÷ (6.26% – 1.44%)
CA$43.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$43.18 ÷ (1 + 6.26%)10
CA$23.54
TSX:DML Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$-1.00 + CA$23.54
CA$22.54
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$22.54 / 597.19
CA$0.04
TSX:DML Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$0.04
Current discount Discount to share price of CA$0.29
= -1 x (CA$0.29 - CA$0.04) / CA$0.04
-668.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Denison Mines is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Denison Mines's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Denison Mines's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:DML PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$-0.03
TSX:DML Share Price ** TSX (2020-03-27) in CAD CA$0.29
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 499 Publicly-Listed Companies 10.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Denison Mines.

TSX:DML PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:DML Share Price ÷ EPS (both in CAD)

= 0.29 ÷ -0.03

-9.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Denison Mines is loss making, we can't compare its value to the CA Oil and Gas industry average.
  • Denison Mines is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Denison Mines's expected growth come at a high price?
Raw Data
TSX:DML PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -9.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
19.5%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Denison Mines, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Denison Mines's assets?
Raw Data
TSX:DML PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$0.35
TSX:DML Share Price * TSX (2020-03-27) in CAD CA$0.29
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.38x
Canada Market PB Ratio Median Figure of 2,352 Publicly-Listed Companies 1x
TSX:DML PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:DML Share Price ÷ Book Value per Share (both in CAD)

= 0.29 ÷ 0.35

0.82x

* Primary Listing of Denison Mines.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Denison Mines is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Denison Mines's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Denison Mines has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

DML Future Performance

 How is Denison Mines expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Denison Mines expected to grow at an attractive rate?
  • Unable to compare Denison Mines's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Denison Mines's earnings growth to the Canada market average as it is expected to be loss making during the next 1-3 years.
  • Denison Mines's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:DML Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:DML Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 19.5%
TSX:DML Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 49.3%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:DML Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:DML Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 40 -5 -12 2
2020-12-31 16 -17 -16 1
2020-03-28
TSX:DML Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 16 -19 -18
2019-09-30 16 -14 -30
2019-06-30 16 -19 -28
2019-03-31 16 -20 -28
2018-12-31 16 -21 -30
2018-09-30 16 -23 -18
2018-06-30 16 -22 -22
2018-03-31 16 -21 -25
2017-12-31 16 17 -19
2017-09-30 16 21 -19
2017-06-30 17 21 -14
2017-03-31 18 21 -11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Denison Mines is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Denison Mines's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:DML Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Denison Mines Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:DML Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 -0.02 -0.02 -0.02 3.00
2020-12-31 -0.03 -0.03 -0.04 4.00
2020-03-28
TSX:DML Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 -0.03
2019-09-30 -0.05
2019-06-30 -0.05
2019-03-31 -0.05
2018-12-31 -0.05
2018-09-30 -0.03
2018-06-30 -0.04
2018-03-31 -0.05
2017-12-31 -0.04
2017-09-30 -0.03
2017-06-30 -0.03
2017-03-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Denison Mines will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Denison Mines's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Denison Mines has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

DML Past Performance

  How has Denison Mines performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Denison Mines's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Denison Mines does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Denison Mines's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Denison Mines's 1-year growth to the CA Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Denison Mines's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Denison Mines Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:DML Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 15.55 -18.14 23.12
2019-09-30 15.74 -30.29 20.86
2019-06-30 15.99 -27.75 20.16
2019-03-31 15.95 -28.44 21.23
2018-12-31 15.55 -30.08 22.72
2018-09-30 15.94 -18.27 23.17
2018-06-30 15.97 -22.01 23.03
2018-03-31 15.91 -25.30 22.29
2017-12-31 16.07 -19.45 22.86
2017-09-30 15.72 -18.77 22.02
2017-06-30 16.67 -14.44 22.37
2017-03-31 17.73 -10.79 22.05
2016-12-31 18.58 -15.71 21.09
2016-09-30 18.86 -21.08 21.11
2016-06-30 18.70 -22.27 22.65
2016-03-31 17.73 -22.45 23.62
2015-12-31 17.58 -23.19 26.86
2015-09-30 15.43 -16.96 24.22
2015-06-30 12.91 -14.81 21.65
2015-03-31 12.37 -24.63 23.98
2014-12-31 11.14 -32.73 24.49
2014-09-30 10.39 -64.29 26.43
2014-06-30 10.39 -106.84 27.19
2014-03-31 11.35 -100.43 26.87
2013-12-31 11.06 -89.06 23.34
2013-09-30 10.89 -59.65 24.34
2013-06-30 10.84 -23.35 23.22
2013-03-31 9.98 -21.79 24.51

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Denison Mines has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Denison Mines has efficiently used its assets last year compared to the CA Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Denison Mines improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Denison Mines's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Denison Mines has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

DML Health

 How is Denison Mines's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Denison Mines's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Denison Mines is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Denison Mines's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Denison Mines's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 62.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Denison Mines Company Filings, last reported 2 months ago.

TSX:DML Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 210.15 0.26 8.19
2019-09-30 207.79 0.04 10.43
2019-06-30 213.75 0.00 14.58
2019-03-31 217.52 0.00 19.03
2018-12-31 222.25 0.00 23.21
2018-09-30 214.66 0.00 21.47
2018-06-30 218.07 0.00 29.54
2018-03-31 223.15 0.00 35.77
2017-12-31 229.76 0.00 41.44
2017-09-30 232.34 0.00 45.76
2017-06-30 238.97 0.09 52.84
2017-03-31 247.26 0.23 58.03
2016-12-31 231.99 0.37 15.90
2016-09-30 240.83 0.00 16.33
2016-06-30 233.66 0.10 23.15
2016-03-31 226.96 0.26 17.87
2015-12-31 231.79 0.42 17.55
2015-09-30 281.21 0.02 19.54
2015-06-30 294.91 0.03 28.55
2015-03-31 289.24 0.04 17.24
2014-12-31 296.53 0.05 26.66
2014-09-30 301.62 0.05 34.68
2014-06-30 293.29 0.06 25.44
2014-03-31 286.42 0.08 28.34
2013-12-31 297.71 0.10 33.81
2013-09-30 305.16 0.13 28.67
2013-06-30 348.57 0.16 33.13
2013-03-31 268.78 0.19 27.37
  • Denison Mines's level of debt (0.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 0.1% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Denison Mines has less than a year of cash runway based on current free cash flow.
  • Denison Mines has less than a year of cash runway if free cash flow continues to reduce at historical rates of -10.7% each year.
X
Financial health checks
We assess Denison Mines's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Denison Mines has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

DML Dividends

 What is Denison Mines's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Denison Mines dividends.
If you bought CA$2,000 of Denison Mines shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Denison Mines's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Denison Mines's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:DML Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:DML Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2020-03-28

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Denison Mines has not reported any payouts.
  • Unable to verify if Denison Mines's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Denison Mines's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Denison Mines has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Denison Mines's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Denison Mines afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Denison Mines has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DML Management

 What is the CEO of Denison Mines's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Cates
COMPENSATION CA$1,237,424
AGE 37
TENURE AS CEO 5 years
CEO Bio

Mr. David Daniel Cates, CPA, CA, MAcc, has been the Chief Executive Officer and President at Uranium Participation Corporation since January 14, 2016. Mr. Cates has been the Chief Executive Officer of Denison Mines Corp. since March 23, 2015 and has been its President since January 13, 2015. Mr. Cates served as the Chief Financial Officer at Denison Mines Corp. from January 13, 2013 to March 23, 2015. He served as the Chief Financial Officer at Rockgate Capital Corp. since November 2013. He served as Vice President of Finance & Tax at Denison Mines Corp. until January 2015. He joined Denison in 2008 and served as its Director of Taxation since 2008 until 2012. Prior to joining Denison in 2008, he held positions at Kinross Gold Corp. and PwC LLP with a focus on taxation and accounting in the resource industry. He has been an Independent Director of GoviEx Uranium Inc. since June 2016. He has been an Independent Director of Skyharbour Resources Ltd. since August 12, 2016. He has been Director of Denison Mines Corp. since August 9. 2018. He is a Chartered Professional Accountant. Mr. Cates has completed Part I, II and III of the CICAIn-depth Tax Course and holds Master of Accounting (MAcc) and Honours Bachelor of Arts (BA) degrees from the University of Waterloo.

CEO Compensation
  • David's compensation has increased whilst company is loss making.
  • David's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Denison Mines management team in years:

4.6
Average Tenure
  • The tenure for the Denison Mines management team is about average.
Management Team

David Cates

TITLE
President
COMPENSATION
CA$1M
AGE
37
TENURE
5 yrs

Mac McDonald

TITLE
Executive VP & CFO
COMPENSATION
CA$926K
TENURE
5 yrs

Dale Verran

TITLE
Vice President of Exploration
COMPENSATION
CA$564K
TENURE
4.2 yrs

Michael Schoonderwoerd

TITLE
VP & Controller
COMPENSATION
CA$514K
TENURE
7.2 yrs

David Bronkhorst

TITLE
Vice President of Operations
TENURE
0.4 yrs

Sophia Shane

TITLE
Investor Relations
AGE
57

Amanda Willett

TITLE
Corporate Counsel & Corporate Secretary
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Denison Mines board of directors in years:

1.6
Average Tenure
63
Average Age
  • The average tenure for the Denison Mines board of directors is less than 3 years, this suggests a new board.
Board of Directors

Catherine Jean Stefan

TITLE
Independent Chairman of the Board
COMPENSATION
CA$83K
AGE
66
TENURE
1.6 yrs

David Cates

TITLE
President
COMPENSATION
CA$1M
AGE
37
TENURE
1.6 yrs

Brian Edgar

TITLE
Independent Director
COMPENSATION
CA$63K
AGE
69
TENURE
15 yrs

Patricia Volker

TITLE
Independent Director
COMPENSATION
CA$13K
AGE
60
TENURE
1.6 yrs

Ron Hochstein

TITLE
Independent Director
COMPENSATION
CA$59K
AGE
57
TENURE
19.9 yrs

Bill Rand

TITLE
Independent Director
COMPENSATION
CA$56K
AGE
77
TENURE
22.8 yrs

Bob Dengler

TITLE
Independent Director
COMPENSATION
CA$67K
AGE
78
TENURE
13.3 yrs

Jack O. Lundin

TITLE
Director
COMPENSATION
CA$13K
AGE
28
TENURE
1.6 yrs

Jun Kim

TITLE
Director
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Denison Mines individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
04. Jan 20 Buy David Cates Individual 03. Jan 20 03. Jan 20 15,000 CA$0.54 CA$7,975
17. Dec 19 Buy Patricia Volker Individual 05. Dec 19 09. Dec 19 85,000 CA$0.56 CA$47,533
11. Dec 19 Buy William Dengler Individual 06. Dec 19 06. Dec 19 75,000 CA$0.68 CA$51,000
10. Dec 19 Buy Tim Gabruch Individual 06. Dec 19 06. Dec 19 30,000 CA$0.68 CA$20,400
10. Dec 19 Buy Gabriel McDonald Individual 06. Dec 19 06. Dec 19 15,000 CA$0.68 CA$10,200
09. Dec 19 Buy David Cates Individual 06. Dec 19 06. Dec 19 220,000 CA$0.68 CA$149,600
06. Dec 19 Buy Catherine Jean Stefan Individual 06. Dec 19 06. Dec 19 20,000 CA$0.68 CA$13,600
X
Management checks
We assess Denison Mines's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Denison Mines has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

DML News

Simply Wall St News

Should You Take Comfort From Insider Transactions At Denison Mines Corp. (TSE:DML)?

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for Denison Mines The Last 12 Months Of Insider Transactions At Denison Mines There wasn't any very large single transaction over the last year, but we can still observe some trading. … TSX:DML Recent Insider Trading, August 27th 2019 Insider Ownership of Denison Mines Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. … From looking at our data, insiders own CA$1.5m worth of Denison Mines stock, about 0.5% of the company.

Simply Wall St -

Is Denison Mines Corp. (TSE:DML) Overpaying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for Denison Mines How Does David Cates's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by Denison Mines Corp., and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

What Kind Of Investor Owns Most Of Denison Mines Corp. (TSE:DML)?

Denison Mines is a smaller company with a market capitalization of CA$413m, so it may still be flying under the radar of many institutional investors. … See our latest analysis for Denison Mines TSX:DML Ownership Summary, June 21st 2019 What Does The Institutional Ownership Tell Us About Denison Mines? … General Public Ownership The general public, who are mostly retail investors, collectively hold 71% of Denison Mines shares.

Simply Wall St -

How Many Denison Mines Corp. (TSE:DML) Shares Do Institutions Own?

Taking a look at our data on the ownership groups (below), it's seems that institutions own shares in the company. … General Public Ownership The general public -- mostly retail investors -- own 71% of Denison Mines. … Public Company Ownership Public companies currently own 9.9% of DML stock.

Simply Wall St -

Are Insiders Buying Denison Mines Corp. (TSE:DML) Stock?

So we'll take a look at whether insiders have been buying or selling shares in Denison Mines Corp. … We don't think shareholders should simply follow insider transactions. … Denison Mines Insider Transactions Over The Last Year

Simply Wall St -

Should You Be Pleased About The CEO Pay At Denison Mines Corp.'s (TSE:DML)

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … has a market capitalization of CA$418m, and pays its CEO total annual compensation worth CA$1.2m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at CA$306k

Simply Wall St -

If You Had Bought Denison Mines (TSE:DML) Stock Five Years Ago, You'd Be Sitting On A 56% Loss, Today

Because Denison Mines is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … When a company doesn't make profits, we'd generally expect to see good revenue growth. … As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Simply Wall St -

Denison Mines Corp. (TSE:DML): Time For A Financial Health Check

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is DML right in choosing financial flexibility over lower cost of capital … Debt funding can be cheaper than issuing new equity due to lower interest cost on debt.

Simply Wall St -

Does Denison Mines Corp's (TSE:DML) CEO Salary Reflect Performance?

In 2015 David Cates was appointed CEO of Denison Mines Corp (TSE:DML). … How Does David Cates's Compensation Compare With Similar Sized Companies. … Our data indicates that Denison Mines Corp is worth CA$391m, and total annual CEO compensation is CA$838k.

Simply Wall St -

How Denison Mines Corp (TSE:DML) Can Impact Your Portfolio Volatility

If you're interested in Denison Mines Corp (TSE:DML), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

DML Company Info

Description

Denison Mines Corp. operates as a uranium exploration and development company with focuses in the Athabasca Basin region of northern Saskatchewan, Canada. Its projects primarily includes the Wheeler River, the Waterbury, the Midwest, the McClean Lake and Mill, and the Hook-Carter that covers approximately 320,000 hectares in the Athabasca Basin region. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp. in December 2006. Denison Mines Corp. was founded in 1996 and is headquartered in Toronto, Canada.

Details
Name: Denison Mines Corp.
DML
Exchange: TSX
Founded: 1996
CA$182,143,606
597,192,153
Website: http://www.denisonmines.com
Address: Denison Mines Corp.
40 University Avenue,
Suite 1100,
Toronto,
Ontario, M5J 1T1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX DML Common Shares The Toronto Stock Exchange CA CAD 27. May 1997
AMEX DNN Common Shares NYSE MKT LLC US USD 27. May 1997
DB IUQ Common Shares Deutsche Boerse AG DE EUR 27. May 1997
LSE 0URY Common Shares London Stock Exchange GB CAD 27. May 1997
Number of employees
Current staff
Staff numbers
65
Denison Mines employees.
Industry
Coal and Consumable Fuels
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 01:31
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/06
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.