Denison Mine (NYSEAMERICAN:DNN) Shares Up 7.7% - Still a Buy?

Key Points

• Denison Mine Corp saw its share price increase by 7.7%, reaching $2.55, though the trading volume fell by 21% from its average.
• Analysts are generally positive, with a consensus rating of "Buy" and an average target price of $3.00; multiple firms have issued "outperform" ratings.
• Institutional investors hold 36.74% of Denison Mine's shares, with notable recent purchases from several hedge funds totaling over $133,000.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's share price shot up 7.7% on Monday . The company traded as high as $2.55 and last traded at $2.55. 60,349,017 shares were traded during mid-day trading, a decline of 21% from the average session volume of 76,594,555 shares. The stock had previously closed at $2.37.

Analyst Ratings Changes

A number of research firms recently weighed in on DNN. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research note on Thursday, August 7th. National Bankshares reissued an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Raymond James Financial reissued an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. TD Securities reissued a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. Finally, Desjardins raised shares of Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mine Trading Up 8.9%

The company has a market capitalization of $2.31 billion, a P/E ratio of -43.00 and a beta of 1.38. The business's fifty day moving average price is $2.14 and its 200-day moving average price is $1.72.

Institutional Trading of Denison Mine

Hedge funds have recently made changes to their positions in the stock. Sowell Financial Services LLC purchased a new position in Denison Mine in the 1st quarter worth $26,000. Providence Capital Advisors LLC purchased a new position in Denison Mine in the 1st quarter worth $30,000. WealthShield Partners LLC raised its position in Denison Mine by 50.0% in the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company's stock worth $33,000 after purchasing an additional 6,000 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Denison Mine in the 2nd quarter worth $38,000. Finally, R Squared Ltd purchased a new position in Denison Mine in the 2nd quarter worth $39,000. 36.74% of the stock is owned by institutional investors.

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.

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