Deep Yellow (OTCMKTS:DYLLF) Shares Up 8.6% – Time to Buy?

Deep Yellow Limited (OTCMKTS:DYLLF) shares rose 8.6% during mid-day trading on Monday. The company traded as high as $0.5375 and last traded at $0.5375. 10,000 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 76,839 shares. The stock had previously closed at $0.4950.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada started coverage on shares of Deep Yellow in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $2.05 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Deep Yellow has a consensus rating of “Buy” and a consensus price target of $1.92.

Deep Yellow Trading Up 4.2%

The company’s 50-day simple moving average is $0.87 and its two-hundred day simple moving average is $1.18.

About Deep Yellow

Deep Yellow Limited is an Australian uranium exploration and development company listed on the Australian Securities Exchange and traded over the counter in the United States under the symbol DYLLF. The company focuses on advancing uranium projects rather than operating a diversified mining or energy-services business.

Deep Yellow’s principal assets include the Tumas uranium project in Namibia and the Mulga Rock uranium project in Western Australia. Tumas is located in the Erongo uranium province, an established mining region, while Mulga Rock is situated in Western Australia’s Great Victoria Desert.