Deep Yellow (OTCMKTS:DYLLF) Shares Down 5.6% – Here’s What Happened

Deep Yellow Limited (OTCMKTS:DYLLF) dropped 5.6% on Monday. The stock traded as low as $0.85 and last traded at $0.85. 10,850 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 72,918 shares. The stock had previously closed at $0.90.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group raised Deep Yellow from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Royal Bank Of Canada started coverage on Deep Yellow in a report on Thursday, September 3rd. They set an “outperform” rating and a $2.05 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Deep Yellow presently has a consensus rating of “Buy” and an average price target of $1.92.

Deep Yellow Price Performance

The company’s 50 day simple moving average is $1.03 and its 200-day simple moving average is $1.13.

About Deep Yellow

Deep Yellow Limited is an Australian uranium exploration and development company focused on advancing projects in Namibia and Western Australia. The company is listed on the Australian Securities Exchange under the symbol DYL, with its shares also traded over the counter in the United States under the symbol DYLLF.

Deep Yellow’s principal Namibian asset is the Tumas uranium project, located in the established uranium-producing Erongo region. The company is working to develop Tumas into a uranium mining and processing operation, subject to project approvals, financing and construction.