Denison Mines (NYSEAMERICAN:DNN) Upgraded at Scotiabank

Scotiabank upgraded shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other analysts have also issued reports on DNN. StockNews.com upgraded Denison Mines to a sell rating in a report on Sunday, May 19th. Roth Capital upgraded Denison Mines to a strong-buy rating in a report on Thursday, June 27th. Finally, Roth Mkm started coverage on Denison Mines in a report on Thursday, June 27th. They issued a buy rating and a $2.60 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Denison Mines presently has an average rating of Buy and a consensus price target of $2.60.

Denison Mines Price Performance

Shares of NYSEAMERICAN:DNN opened at $2.12 on Tuesday. Denison Mines has a 1 year low of $1.15 and a 1 year high of $2.47. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 30.29 and a beta of 1.73.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $0.62 million during the quarter. Denison Mines had a return on equity of 12.96% and a net margin of 888.36%. Analysts anticipate that Denison Mines will post -0.06 EPS for the current fiscal year.

Institutional Trading of Denison Mines

A number of hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Denison Mines by 7.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,008,885 shares of the basic materials company’s stock worth $86,228,000 after buying an additional 3,342,434 shares during the period. MMCAP International Inc. SPC increased its position in shares of Denison Mines by 37.7% during the fourth quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after purchasing an additional 8,592,121 shares in the last quarter. Vident Advisory LLC increased its position in shares of Denison Mines by 15.0% during the first quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after purchasing an additional 884,599 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Denison Mines by 22.2% during the first quarter. Van ECK Associates Corp now owns 5,293,313 shares of the basic materials company’s stock worth $10,327,000 after purchasing an additional 960,585 shares in the last quarter. Finally, Azarias Capital Management L.P. increased its position in shares of Denison Mines by 6.0% during the first quarter. Azarias Capital Management L.P. now owns 2,910,404 shares of the basic materials company’s stock worth $5,675,000 after purchasing an additional 165,000 shares in the last quarter. 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.