Denison Mines (NYSEAMERICAN:DNN) Hits New 1-Year Low – Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) reached a new 52-week low on Tuesday . The stock traded as low as $1.27 and last traded at $1.33, with a volume of 15037634 shares trading hands. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Up 2.7 %

The stock’s 50 day moving average price is $1.65 and its 200-day moving average price is $1.90. The stock has a market capitalization of $1.20 billion, a PE ratio of -133.50 and a beta of 1.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new stake in shares of Denison Mines in the fourth quarter valued at $1,939,000. Mackenzie Financial Corp boosted its stake in Denison Mines by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 450,247 shares of the basic materials company’s stock valued at $817,000 after acquiring an additional 17,087 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Denison Mines by 2.9% during the fourth quarter. Two Sigma Investments LP now owns 586,371 shares of the basic materials company’s stock worth $1,055,000 after acquiring an additional 16,310 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Denison Mines by 5.8% in the fourth quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company’s stock worth $18,298,000 after buying an additional 558,200 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Denison Mines by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock worth $9,221,000 after acquiring an additional 4,084,401 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.

About Denison Mines

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.