Denison Mines (NYSEAMERICAN:DNN) Trading Down 4.4% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price was down 4.4% during mid-day trading on Thursday . The company traded as low as $1.85 and last traded at $1.87. Approximately 15,381,955 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 28,199,047 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

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

Denison Mines Price Performance

The business has a 50 day moving average of $2.00. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -188.00 and a beta of 1.77.

Institutional Trading of Denison Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC bought a new position in shares of Denison Mines in the third quarter valued at approximately $27,000. Toronto Dominion Bank grew its holdings in shares of Denison Mines by 39.4% in the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 6,777 shares in the last quarter. Fiduciary Family Office LLC bought a new position in shares of Denison Mines in the fourth quarter valued at approximately $50,000. Continuum Advisory LLC grew its holdings in shares of 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 acquiring an additional 14,688 shares in the last quarter. Finally, Legacy Capital Group California Inc. grew 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 acquiring an additional 11,066 shares in the last quarter. 36.74% of the stock is owned by institutional investors.

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.