Is Denison Mines Corp. (DNN) one of the Best Penny Stocks to Buy According to Hedge Funds?

Denison Mines Corp. (NYSE:DNN) is one of the best penny stocks to buy according to hedge funds. On October 2, Desjardins analyst Bryce Adams reiterated a bullish stance on Denison Mines Corp. (NYSE:DNN), giving the stock a Buy rating with a C$5.00 price target.

Is Denison Mines Corp. (DNN) the Best Canadian Penny Stock to Invest in Now?

In its fiscal Q2 2025 results, Denison Mines Corp. (NYSE:DNN) announced the first production at McClean Lake North using SABRE MininG.

In addition, Denison Mines Corp. (NYSE:DNN) obtained provincial approval of environmental assessment for Wheeler River, while also attaining around 80% completion of total engineering for Phoenix.

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.

While we acknowledge the potential of DNN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DNN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.