Denison Mine (NYSEAMERICAN:DNN) Shares Down 6.4% - Here's Why

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

Analysts Set New Price Targets

DNN has been the topic of several research reports. Desjardins started coverage on shares of Denison Mine in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Denison Mine presently has an average rating of "Buy" and a consensus price target of $3.00.

Denison Mine Trading Down 4.4%

The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -21.63 and a beta of 1.48. The stock's 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.72.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Denison Mine by 62.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company's stock worth $1,955,000 after buying an additional 578,365 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Denison Mine by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company's stock worth $2,194,000 after purchasing an additional 45,125 shares during the period. Millennium Management LLC raised its position in Denison Mine by 11.5% during the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company's stock valued at $7,423,000 after buying an additional 587,352 shares during the period. Royal Bank of Canada raised its position in Denison Mine by 14.6% during the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company's stock valued at $5,613,000 after buying an additional 550,064 shares during the period. Finally, Caption Management LLC acquired a new position in Denison Mine during the first quarter valued at $98,000. 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.