Why Denison Mines Stock Jumped 10% at the Open Today

Shares of Denison Mines (NYSEMKT: DNN), which owns 90% of the Wheeler River uranium mine development project, rose 10% in early trading on Feb. 9. That comes on the heels of a notable price move the day before, which has some uranium industry watchers thinking that short-squeeze issues might be at play in some fashion. Like yesterday, other uranium miners rose today, as well, though none had reached the 10% level by 11:30 a.m. EST.

All in, there's really no way to tell exactly what's moving the uranium market or Denison right now. There's conjecture, but not a lot of material news. However, there has been news out of Denison.

On Feb. 8 the company announced a $24 million investment budget as it restarts work on the environmental assessment for the Wheeler River project. And today it announced results from earlier exploration efforts.

Source Fool.com