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Fly News Breaks for July 18, 2017
DNN
Jul 18, 2017 | 07:11 EDT
Credit Suisse analyst Robert Reynolds downgraded Denison Mines to Underperform from Neutral due to his view for a prolonged period of sub-$40/lb uranium prices, with his forecast 17%-27% below consensus from 2017-2019. The value of the company's development portfolio is highly dependent on the longer-term uranium price outlook and the need for new uranium mine supply, he notes, adding that he currently forecast uranium market surpluses until 2028.
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