Denison Mine (NYSEAMERICAN:DNN) Sets New 1-Year High - Here's Why

Key Points

• Denison Mine Corp shares reached a new 52-week high of $3.14 during trading, closing at $3.05 with significant volume of over 14 million shares.
• Several analysts have upgraded Denison Mine's rating, with five giving it a "Buy" rating, leading to a current consensus rating of "Buy" and an average target price of $2.75.
• Institutional investors hold 36.74% of the company's stock, indicating growing interest from hedge funds and financial institutions in Denison Mine.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $3.14 and last traded at $3.05, with a volume of 14226599 shares. The stock had previously closed at $2.88.

Analysts Set New Price Targets

DNN has been the topic of a number of recent research reports. Desjardins raised Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. National Bankshares reaffirmed an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. TD Securities reaffirmed a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. Scotiabank reaffirmed an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Denison Mine in a report on Friday. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $2.75.

Denison Mine Trading Up 5.7%

The company has a market capitalization of $2.73 billion, a PE ratio of -50.75 and a beta of 1.32. The stock has a fifty day moving average of $2.42 and a two-hundred day moving average of $1.90.

Hedge Funds Weigh In On Denison Mine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC bought a new position in Denison Mine during the 1st quarter worth approximately $26,000. Providence Capital Advisors LLC bought a new position in Denison Mine during the 1st quarter worth approximately $30,000. WealthShield Partners LLC grew its position in Denison Mine by 50.0% during the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company's stock worth $33,000 after acquiring an additional 6,000 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Denison Mine during the 2nd quarter worth approximately $38,000. Finally, R Squared Ltd bought a new position in Denison Mine during the 2nd quarter worth approximately $39,000. 36.74% of the stock is currently 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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