Denison Mines Sees Unusually High Options Volume (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of unusually large options trading on Wednesday. Stock traders purchased 6,898 call options on the stock. This represents an increase of approximately 102% compared to the typical daily volume of 3,416 call options.

Denison Mines Stock Performance

DNN stock opened at $1.87 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of 26.71 and a beta of 1.70. The stock’s fifty day moving average is $1.98. Denison Mines has a one year low of $1.40 and a one year high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced 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). The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. Research analysts expect that Denison Mines will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Roth Mkm assumed coverage on shares of Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 price target on the stock. Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Finally, Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $2.93.

Hedge Funds Weigh In On Denison Mines

Several institutional investors and hedge funds have recently made changes to their positions in DNN. Cetera Investment Advisers lifted its holdings in Denison Mines by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 923,715 shares of the basic materials company’s stock worth $1,838,000 after purchasing an additional 22,405 shares during the last quarter. Point72 Asset Management L.P. increased its position in Denison Mines by 0.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock worth $20,170,000 after buying an additional 46,000 shares during the period. Lloyd Harbor Capital Management LLC increased its position in Denison Mines by 168.5% during 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 period. The Manufacturers Life Insurance Company lifted its holdings in shares of Denison Mines by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock worth $1,378,000 after buying an additional 13,144 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position 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 during the period. Institutional investors and hedge funds 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.