Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 5% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) fell 5% during trading on Monday . The company traded as low as $2.27 and last traded at $2.27. 23,353,904 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 16,888,727 shares. The stock had previously closed at $2.39.

Analyst Ratings Changes

DNN has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $2.75 target price (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. StockNews.com upgraded Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. CIBC started coverage on Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target on the stock. Finally, BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $3.00.

Denison Mines Price Performance

The firm’s 50 day moving average is $2.00. The firm has a market cap of $2.07 billion, a PE ratio of -232.00 and a beta of 1.69.

Institutional Trading of Denison Mines

Several institutional investors and hedge funds have recently modified their holdings of the business. Connective Capital Management LLC acquired a new position in shares of Denison Mines in the first quarter worth $602,000. Tidal Investments LLC lifted its holdings in Denison Mines by 53.9% in the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,018 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Denison Mines by 78.3% during the 1st quarter. Virtu Financial LLC now owns 351,910 shares of the basic materials company’s stock worth $686,000 after purchasing an additional 154,509 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Denison Mines during the first quarter worth about $1,758,000. Finally, Keynote Financial Services LLC acquired a new position in shares of Denison Mines in the first quarter valued at approximately $203,000. 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.