Denison Mine (NYSEAMERICAN:DNN) Shares Down 7.1% - What's Next?

Key Points

• Shares down 7.1% — DNN traded as low as $3.40 and last at $3.3160 on Thursday with volume of 7.52M shares (vs. an average session volume of ~48.6M), after closing prior at $3.57.
• Analyst consensus "Buy" — One Strong Buy and five Buy ratings produce a consensus target of $5.38, with recent upgrades including Zacks to Strong-Buy and TD Securities lifting its target to $6.50.
• Heavy institutional accumulation and flagship asset — Several funds (Two Sigma, VanEck, Vanguard, L1) materially boosted positions; Denison has a $3.08B market cap and its flagship is the 66.9%‑owned Wheeler River high‑grade uranium project.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML traded down 7.1% on Thursday . The stock traded as low as $3.40 and last traded at $3.3160. 7,523,450 shares traded hands during trading, a decline of 85% from the average session volume of 48,607,965 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several brokerages have recently issued reports on DNN. Zacks Research raised Denison Mine from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 11th. Scotiabank reissued an "outperform" rating on shares of Denison Mine in a research report on Friday, February 20th. Raymond James Financial reissued an "outperform" rating on shares of Denison Mine in a research note on Wednesday, January 14th. Roth Mkm reiterated a "buy" rating and set a $4.25 target price on shares of Denison Mine in a research report on Wednesday, February 18th. Finally, TD Securities raised their target price on shares of Denison Mine from $6.00 to $6.50 and gave the stock a "buy" rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, Denison Mine has a consensus rating of "Buy" and a consensus target price of $5.38.

Denison Mine Stock Down 4.6%

The firm has a market cap of $3.08 billion, a P/E ratio of -20.03 and a beta of 1.18. The company has a current ratio of 10.75, a quick ratio of 10.51 and a debt-to-equity ratio of 1.66. The business has a 50-day moving average price of $3.87 and a 200-day moving average price of $3.14.

Hedge Funds Weigh In On Denison Mine

Hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP raised its stake in Denison Mine by 1,696.3% in the third quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company's stock worth $46,823,000 after buying an additional 16,078,514 shares in the last quarter. L1 Capital Pty Ltd boosted its position in Denison Mine by 4,544.0% during the 3rd quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company's stock valued at $38,520,000 after acquiring an additional 13,705,598 shares in the last quarter. Van ECK Associates Corp boosted its position in Denison Mine by 20.9% during the fourth quarter. Van ECK Associates Corp now owns 75,910,027 shares of the basic materials company's stock valued at $201,916,000 after purchasing an additional 13,106,987 shares in the last quarter. Vanguard Group Inc. grew its stake in Denison Mine by 1,697.4% in the third quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company's stock valued at $36,502,000 after purchasing an additional 12,525,956 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Denison Mine by 4,648.7% in the third quarter. DAVENPORT & Co LLC now owns 7,123,000 shares of the basic materials company's stock valued at $19,588,000 after purchasing an additional 6,973,000 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors.

About Denison Mine

Denison Mines Corp. NYSEAMERICAN: DNN is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company's core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison's flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world's most prolific uranium districts.

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