Denison Mine Corp (NYSEAMERICAN:DNN) Receives Average Rating of "Buy" from Brokerages

Key Points

• Denison Mine Corp (NYSEAMERICAN:DNN) has received an average rating of "Buy" from seven brokerage firms, with five analysts recommending a buy and two issuing a strong buy.
• The average price target among brokerages for Denison Mine's stock over the next 12 months is $3.00.
• Millennium Management LLC significantly increased its stake in Denison Mine by 393.3% in the fourth quarter, now owning over 5 million shares valued at approximately $9.2 million.

Shares of Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML have received an average recommendation of "Buy" from the seven ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $3.00.

Separately, Scotiabank restated an "outperform" rating on shares of Denison Mine in a report on Thursday.

Institutional Trading of Denison Mine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in Denison Mine by 393.3% during the fourth quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock worth $9,221,000 after acquiring an additional 4,084,401 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Denison Mine during the fourth quarter worth about $1,939,000. JPMorgan Chase & Co. acquired a new stake in Denison Mine during the fourth quarter worth about $501,000. Triasima Portfolio Management inc. acquired a new stake in shares of Denison Mine in the first quarter valued at about $455,000. Finally, Acuitas Investments LLC acquired a new stake in shares of Denison Mine in the first quarter valued at about $437,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Denison Mine Stock Performance

NYSEAMERICAN DNN traded down $0.02 during trading hours on Thursday, reaching $2.24. The stock had a trading volume of 41,694,279 shares, compared to its average volume of 79,773,508. The stock has a fifty day moving average of $1.87 and a 200 day moving average of $1.68. The stock has a market cap of $2.01 billion, a P/E ratio of -28.00 and a beta of 1.39. Denison Mine has a 52-week low of $1.08 and a 52-week high of $2.47.

Denison Mine 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.

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