NEW YORK, December 30, 2025, 02:52 ET — Market closed.
Denison Mines Corp (DNN) shares closed up 0.4% at $2.70 on Monday, after trading between $2.65 and $2.80. About 32 million shares changed hands, according to market data.
The small gain comes as uranium prices firmed late in December, a tailwind for miners that often trade as proxies for the commodity. Spot uranium rose to $81.95 per pound on Monday and is up about 7% over the past month, Trading Economics data showed. 1
The sector also drew attention after Energy Fuels Inc (UUUU) said it exceeded 2025 production and sales guidance and completed two new long-term uranium sales contracts for deliveries from 2027 to 2032, using hybrid pricing that blends a base price with spot-market exposure. “Strong uranium production is critical to America’s economic and national security,” CEO Mark S. Chalmers said. 2
Denison, which trades in Toronto and on the NYSE American, is developing the Phoenix deposit at its Wheeler River project in Saskatchewan’s Athabasca Basin. The company plans to use in-situ recovery (ISR) — circulating a leaching solution through the ore body underground and pumping the uranium-bearing fluid to the surface — and said permitting is nearing completion after provincial environmental assessment approval in July 2025 and the conclusion of a federal regulator hearing process in December. 3
In its latest corporate update, Denison said on Dec. 17 it closed a transaction with Skyharbour Resources and formed four exploration joint ventures on claims next to Wheeler River. Denison said it will operate two of the ventures and has options to increase its stake in two of them up to 70%. 4
With no major Denison-specific catalyst driving Monday’s trade, DNN’s direction has largely been set by uranium pricing and by headlines that hint at tighter supply or firmer contracting terms.
That linkage can amplify moves: contract announcements can reset expectations for future realized prices, while the equity market tends to reprice faster than the underlying physical uranium market.
Peers such as Cameco, Uranium Energy and Energy Fuels often move on the same headlines, especially when contract terms signal tighter supply or higher realized prices.
Before the next session, U.S. macro data due Tuesday include the S&P CoreLogic Case-Shiller home price index and the Chicago PMI, a regional gauge of manufacturing activity, which can sway risk appetite for small-cap resource stocks. 5
Year-end trading conditions may also distort price action. U.S. stock markets are open on New Year’s Eve (Dec. 31) but closed on New Year’s Day (Jan. 1), and bond markets close early at 2 p.m. ET on Dec. 31, MarketWatch reported. 6
On the chart, Monday’s low around $2.63-$2.65 is the nearest support zone for DNN, while the $2.80-$2.81 area is the first resistance if buyers step back in. 7
Denison’s investor calendar lists reporting dates through Nov. 6 for third-quarter results and does not list a Q4 2025 reporting date. Any update on the Wheeler River licensing timeline is likely to be the next company-specific test for the stock. 8
