Denison Mine (NYSEAMERICAN:DNN) Hits New 52-Week 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.

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

Analysts Set New Price Targets

DNN has been the topic of several recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research note on Thursday, August 7th. Raymond James Financial reiterated an "outperform" rating on shares of Denison Mine in a research note on Monday, August 18th. TD Securities restated a "buy" rating on shares of Denison Mine in a research note on Monday, August 11th. Desjardins upgraded Denison Mine to a "moderate buy" rating in a research note on Monday, August 18th. Finally, National Bankshares restated an "outperform" rating on shares of Denison Mine in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $3.00.

Denison Mine Price Performance

The company has a market capitalization of $2.20 billion, a PE ratio of -40.92 and a beta of 1.38. The company has a 50-day moving average of $2.09 and a two-hundred day moving average of $1.70.

Institutional Investors Weigh In On Denison Mine

A number of institutional investors and hedge funds have recently bought and sold shares of DNN. Osaic Holdings Inc. increased 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 purchasing an additional 10,637 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Denison Mine in the second quarter worth about $38,000. L1 Capital Pty Ltd bought a new stake in shares of Denison Mine in the second quarter worth about $552,000. Hohimer Wealth Management LLC bought a new stake in shares of Denison Mine in the second quarter worth about $42,000. Finally, Headlands Technologies LLC increased 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 purchasing an additional 228,402 shares during the last quarter. 36.74% of the stock is owned by institutional investors.

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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