Denison Mine (NYSEAMERICAN:DNN) Stock Price Down 6.4% - Here's What Happened

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's stock price dropped 6.4% during mid-day trading on Tuesday . The stock traded as low as $1.69 and last traded at $1.70. Approximately 50,181,178 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 50,457,983 shares. The stock had previously closed at $1.81.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DNN. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research report on Tuesday, March 25th. Desjardins assumed coverage on Denison Mine in a research report on Friday, April 4th. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Denison Mine has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mine Stock Down 2.3%

The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -21.13 and a beta of 1.48. The company has a 50 day moving average of $1.64 and a 200 day moving average of $1.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNN. Commonwealth Equity Services LLC raised its position in shares of Denison Mine by 74.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock worth $36,000 after purchasing an additional 8,500 shares during the period. Envestnet Asset Management Inc. boosted its stake in Denison Mine by 35.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 8,783 shares in the last quarter. Old West Investment Management LLC boosted its stake in Denison Mine by 0.7% during the 4th quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company's stock valued at $2,611,000 after purchasing an additional 10,251 shares in the last quarter. Geode Capital Management LLC boosted its stake in Denison Mine by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company's stock valued at $792,000 after purchasing an additional 11,296 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Denison Mine by 13.4% during the 1st quarter. HighTower Advisors LLC now owns 102,180 shares of the basic materials company's stock valued at $133,000 after purchasing an additional 12,050 shares in 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.