Denison Mine Corp (NYSEAMERICAN:DNN) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Denison Mine Corp has received a consensus rating of "Buy" from five analysts, with an average 1-year price target set at $2.75.
• Institutional investors are increasingly investing in Denison Mine, with hedge funds owning 36.74% of the company's stock and notable increases in stakes by several firms.
• The stock price of Denison Mine recently opened at $2.86, reflecting a 4.0% increase, with a market cap of $2.56 billion.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML has been given a consensus rating of "Buy" by the five analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $2.75.

Several equities analysts have issued reports on the stock. TD Securities reaffirmed a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a research report on Monday, August 18th. National Bankshares restated an "outperform" rating on shares of Denison Mine in a research report on Monday, August 18th. Finally, Desjardins upgraded shares of Denison Mine to a "moderate buy" rating in a research report on Monday, August 18th.

Hedge Funds Weigh In On Denison Mine

A number of institutional investors have recently bought and sold shares of DNN. MMCAP International Inc. SPC raised its stake in Denison Mine by 36.4% during the first quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock worth $31,064,000 after purchasing an additional 6,371,531 shares during the period. Balyasny Asset Management L.P. purchased a new position in Denison Mine during the second quarter worth about $7,998,000. BW Gestao de Investimentos Ltda. purchased a new position in Denison Mine during the second quarter worth about $5,333,000. Vident Advisory LLC raised its stake in Denison Mine by 41.9% during the second quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company's stock worth $17,755,000 after purchasing an additional 2,881,618 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Denison Mine by 35.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,945,229 shares of the basic materials company's stock worth $16,367,000 after purchasing an additional 2,338,325 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mine Stock Up 4.0%

DNN opened at $2.86 on Friday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -47.67 and a beta of 1.38. Denison Mine has a 52-week low of $1.08 and a 52-week high of $2.95. The firm's fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $1.79.

About Denison Mine

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.

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