Why Denison Mines and Energy Fuels Crashed Today

Uranium mining stocks Denison Mines (NYSEMKT: DNN) and Energy Fuels (NYSEMKT: UUUU) tumbled in Friday afternoon trading, falling 7.6% and 10%, respectively, despite analysts at Canaccord Genuity having just yesterday hiked their price target for Denison. In a brief note Thursday, TheFly.com advised that Canaccord had raised its price target on Denison Mines stock 20% to three Canadian dollars per share. The analyst also reiterated its "speculative buy" rating on the still-unprofitable uranium mining stock.