Denison Mines (NYSEAMERICAN:DNN) Shares Down 3.4% – Time to Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) dropped 3.4% during mid-day trading on Wednesday . The stock traded as low as $1.84 and last traded at $1.85. Approximately 2,625,813 shares traded hands during trading, a decline of 83% from the average daily volume of 15,803,475 shares. The stock had previously closed at $1.91.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DNN. CIBC began coverage on shares of Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target for the company. StockNews.com raised Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Roth Mkm started coverage on Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price on the stock. Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $2.93.

Denison Mines Stock Performance

The company has a 50-day simple moving average of $1.98. The company has a market cap of $1.68 billion, a PE ratio of 30.83 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. On average, research analysts anticipate that Denison Mines Corp. will post -0.06 earnings per share for the current year.

Institutional Trading of Denison Mines

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lloyd Harbor Capital Management LLC lifted its position in Denison Mines by 168.5% in the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after buying an additional 3,875,016 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Denison Mines by 9.2% in the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after purchasing an additional 2,138,603 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Denison Mines by 39.9% during the second quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock valued at $14,748,000 after buying an additional 2,111,912 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Denison Mines in the 1st quarter valued at about $1,758,000. Finally, Vident Advisory LLC grew its position in Denison Mines by 15.0% during the 1st quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after acquiring an additional 884,599 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.