Denison Mine (NYSEAMERICAN:DNN) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Denison Mine Corp's share price has recently crossed above its 200-day moving average, reaching a current price of $2.58 with a significant volume of trades at 96.5 million shares.
• Multiple analysts have upgraded Denison Mine shares, with a consensus rating of "Buy" and a target price of $3.00.
• Institutional investor interest has surged, with notable increases in holdings from firms such as D. E. Shaw & Co. Inc. and Millennium Management LLC, among others.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.72 and traded as high as $2.61. Denison Mine shares last traded at $2.58, with a volume of 96,533,610 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DNN shares. 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 research note on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating on shares of Denison Mine in a research note 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 Denison Mine to a "moderate buy" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mine Price Performance

The company's 50-day moving average price is $2.20 and its 200-day moving average price is $1.75. The company has a market cap of $2.39 billion, a P/E ratio of -44.50 and a beta of 1.38.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DNN. L1 Capital Pty Ltd bought a new stake in Denison Mine during the 2nd quarter worth about $552,000. Osaic Holdings Inc. lifted its position in Denison Mine by 24.2% during the 2nd 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 in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Denison Mine in the second quarter valued at about $38,000. Hohimer Wealth Management LLC acquired a new stake in shares of Denison Mine in the second quarter valued at about $42,000. Finally, Headlands Technologies LLC increased its position 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 valued at $422,000 after acquiring an additional 228,402 shares during the last quarter. Institutional investors and hedge funds 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.