15 Strong Buy Stocks Under $5 to Buy Now

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3. Denison Mines Corp. (NYSE:DNN)

Stock Price: $2.08

Analyst Upside: 39.10%

Number of Hedge Fund Holders: 27

Denison Mines Corp. (NYSE:DNN) is one of the top strong buy stocks under $5 to buy now. On August 19, Canaccord Genuity analyst Katie Lachapelle maintained a Buy rating on Denison Mines Corp. (NYSE:DNN), retaining the price target of C$4.10.

The analyst reasoned that Denison Mines Corp. (NYSE:DNN) recently conducted a significant convertible senior notes offering, raising considerable capital usable for development initiatives and future growth.

The initiative bolsters the company’s balance sheet, according to the analyst, offering it considerable flexibility to pursue strategic opportunities in the uranium market.

Lachapelle added that Denison Mines Corp. (NYSE:DNN) is well-positioned to capitalize on the favorable market conditions for uranium producers, with rising demand and potential supply constraints hiking up prices.

Denison Mines Corp. (NYSE:DNN) is involved in the exploration and development of uranium. The company holds interests in the Athabasca Basin, Wheeler River, Midwest Project, McClean Lake, and Waterbury Lake.

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