Toronto, Feb 19, 2026, 08:24 EST — Premarket
- Denison Mines (DNN) ticked 0.3% higher ahead of the bell, building on a 2.9% gain from the previous session.
- Company tapped Wood Canada to oversee building the Phoenix uranium mine—though it’s still waiting on federal permits.
- Roth MKM bumped its price target up to $4.25. Investors are also watching Denison’s Feb. 26 earnings date.
Denison Mines Corp’s U.S. shares (DNN) edged up 0.3% to $3.93 ahead of Thursday’s open, following a 2.9% gain to $3.92 on Wednesday. Turnover ran high, with roughly 38 million shares changing hands that session. (StockAnalysis)
This is a big deal for Denison. The company wants to shift Phoenix, its slated uranium mine at Wheeler River in northern Saskatchewan, out of the drawn-out permitting phase and into real-world execution. Uranium developer investors are usually keyed in to the timeline, and this week’s headlines are hitting that nerve directly.
Denison on Tuesday evening named Wood Canada as the construction manager for its Phoenix project, calling it a preparatory move ahead of a final green light from Ottawa. “We stand ready to make a Final Investment Decision,” CEO David Cates said, signaling the company is poised to commit its full construction budget. Wood’s John Day described the focus as “a safe and seamless transition into execution.” (Newswire)
Phoenix is set up as an in-situ recovery mine, or ISR. Instead of an open pit, the approach relies on wells pumping solution underground to pull uranium up. Denison and peers tout ISR as cutting upfront costs and speeding up construction. Regulators, however, continue to examine groundwater safeguards and the details of operating permits.
Traders had a fresh data point to chew on: TipRanks flagged that Roth MKM’s Joseph Reagor maintained his buy call on Feb. 18, bumping his price target up to $4.25 from $3. (TipRanks)
Denison’s February update to investors pegs first output from Phoenix for mid-2028, though the company highlights federal permitting as the big variable on timing. The presentation listed Denison’s liquidity at around C$718 million—counting cash, physical uranium, and investments—based on figures as of Sept. 30, 2025. That’s the number Denison has been pointing to as it makes the case it can bankroll a major build without last-minute financing trouble. (MarketScreener)
Denison’s capex isn’t all about Wheeler River, either. Over at Hook-Carter, where Greenridge Exploration is a partner, winter drilling is already underway. Denison’s running the show, aiming for up to eight diamond drill holes before March wraps up. Greenridge CEO Russell Starr called it “the culmination of years of exploration efforts.” (GlobeNewswire)
The Athabasca Basin—no stranger to uranium headlines. Home to some of the planet’s top-grade deposits, it’s a patch that’s always getting stacked up against heavyweight players like Cameco or NexGen. Even a lone contract award can spark talk, with investors quick to measure it against those bigger regional projects.
Still, it all comes back to permits and timing. If federal approvals drag out, construction bills climb, or uranium prices slip, Denison might end up pushing back procurement, extending timelines, or rethinking its financing math—moves that have a habit of hitting these shares fast.
Thursday’s regular session puts the spotlight on whether buyers keep stepping in following Wednesday’s rally, with traders also scanning for fresh hints on the outstanding federal decisions. Denison, for its part, has circled a date: Investing.com pegs the next earnings release for Feb. 26. (Investing)
