Denison Mines (NYSEAMERICAN:DNN) Shares Down 3.1% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price fell 3.1% during mid-day trading on Tuesday . The company traded as low as $1.87 and last traded at $1.89. 3,497,871 shares were traded during mid-day trading, a decline of 80% from the average session volume of 17,149,469 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

A number of equities analysts have commented on DNN shares. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Roth Mkm reissued a “buy” rating and issued a $2.75 price target (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. CIBC initiated coverage on shares of Denison Mines in a report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective for the company. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and a consensus target price of $3.00.

Denison Mines Trading Down 1.8 %

The business’s 50-day moving average is $2.02. The stock has a market capitalization of $1.71 billion, a P/E ratio of -191.50 and a beta of 1.71.

Hedge Funds Weigh In On Denison Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC acquired a new stake in shares of Denison Mines during the third quarter worth about $27,000. Toronto Dominion Bank boosted its stake in Denison Mines by 39.4% during the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 6,777 shares during the period. Continuum Advisory LLC increased its stake in Denison Mines by 78.5% in the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 14,688 shares during the period. Legacy Capital Group California Inc. raised its holdings in shares of Denison Mines by 47.5% in the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock valued at $63,000 after buying an additional 11,066 shares during the last quarter. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock worth $68,000 after buying an additional 13,000 shares during the period. 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.