Deep Yellow (OTCMKTS:DYLLF) Shares Down 11.2% – Here’s Why

Deep Yellow Limited (OTCMKTS:DYLLF)’s share price was down 11.2% during mid-day trading on Tuesday . The stock traded as low as $1.5180 and last traded at $1.54. Approximately 30,500 shares were traded during trading, a decline of 78% from the average daily volume of 139,732 shares. The stock had previously closed at $1.7350.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DYLLF shares. Jefferies Financial Group cut Deep Yellow to an “underperform” rating and set a $1.85 price target for the company. in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of Deep Yellow in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $1.85 price target for the company. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Deep Yellow presently has an average rating of “Reduce” and an average target price of $1.85.

Deep Yellow Stock Down 5.4%

The company has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $1.26.

About Deep Yellow

Deep Yellow Limited is an Australia-based mineral exploration and development company focused on advancing uranium projects in Africa. Established in 1990 and headquartered in Perth, the company’s principal goal is to define and develop high-quality uranium resources to support global low-carbon energy solutions. Deep Yellow pursues a strategy of systematic exploration, resource delineation and feasibility studies aimed at delivering near-term production opportunities.

The company’s flagship assets are located in Namibia’s well-known uranium provinces, including the Tumas and Omahola project areas, where extensive drilling programs have identified significant mineralisation.