Denison Mine (NYSEAMERICAN:DNN) Reaches New 1-Year High - Time to Buy?

Key Points

• Denison Mine Corp shares reached a new 52-week high, trading at $2.47, with a significant volume of over 30 million shares exchanged.
• Analysts have reiterated a positive outlook for Denison, with a consensus rating of "Buy" and a price target of $3.00, supported by various upgrades from multiple firms.
• Approximately 36.74% of Denison's stock is owned by institutional investors, highlighting strong institutional interest in the company.

Shares of Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2.47 and last traded at $2.46, with a volume of 30786914 shares changing hands. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Securities reiterated a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. Raymond James Financial reiterated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Desjardins upgraded shares of Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. National Bankshares reiterated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Finally, Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $3.00.

Denison Mine Stock Up 8.9%

The firm's fifty day moving average price is $2.12 and its two-hundred day moving average price is $1.72. The stock has a market capitalization of $2.31 billion, a PE ratio of -43.00 and a beta of 1.38.

Hedge Funds Weigh In On Denison Mine

A number of institutional investors and hedge funds have recently made changes to their positions in the business. L1 Capital Pty Ltd purchased a new position in shares of Denison Mine in the second quarter worth approximately $552,000. Osaic Holdings Inc. boosted its holdings in shares of Denison Mine by 24.2% in the second quarter. Osaic Holdings Inc. now owns 54,647 shares of the basic materials company's stock worth $99,000 after buying an additional 10,637 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Denison Mine in the second quarter worth approximately $38,000. Hohimer Wealth Management LLC purchased a new position in shares of Denison Mine in the second quarter worth approximately $42,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Denison Mine by 7,014.8% in the second quarter. Headlands Technologies LLC now owns 231,658 shares of the basic materials company's stock worth $422,000 after buying an additional 228,402 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company's stock.

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.