Denison Mine (NYSEAMERICAN:DNN) Shares Gap Down - Time to Sell?

Key Points

• Denison Mine Corp shares opened at $2.00 after previously closing at $2.16, marking a gap down in trading.
• Analysts maintain a strong bullish outlook with a consensus target price of $3.00 and a majority of ratings categorized as either "buy" or "strong buy."
• Institutional investors have actively increased their stakes, with hedge funds owning 36.74% of the company’s stock, highlighting growing interest in Denison Mine.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.16, but opened at $2.00. Denison Mine shares last traded at $2.02, with a volume of 66,680,439 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Securities reissued a "buy" rating on shares of Denison Mine in a research note on Monday, August 11th. Scotiabank reissued an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $3.00.

Denison Mine Stock Performance

The business has a 50 day moving average of $1.94 and a 200-day moving average of $1.68. The stock has a market cap of $1.82 billion, a PE ratio of -33.83 and a beta of 1.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Denison Mine by 1.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,884,241 shares of the basic materials company's stock worth $114,120,000 after buying an additional 880,966 shares in the last quarter. MMCAP International Inc. SPC lifted its holdings in shares of Denison Mine by 36.4% in the first quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock valued at $31,064,000 after purchasing an additional 6,371,531 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Denison Mine in the fourth quarter worth $35,837,000. Point72 Asset Management L.P. increased its stake in shares of Denison Mine by 5.8% in the fourth quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company's stock worth $18,298,000 after acquiring an additional 558,200 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Denison Mine by 41.9% in the second quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company's stock worth $17,755,000 after acquiring an additional 2,881,618 shares during the last quarter. Institutional investors and hedge funds own 36.74% of the company's stock.

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.