Denison Mine (NYSEAMERICAN:DNN) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.85 and traded as high as $2.86. Denison Mine shares last traded at $2.80, with a volume of 119,659,832 shares changing hands.

Wall Street Analyst Weigh In

DNN has been the subject of a number of recent analyst reports. TD Securities reissued a "buy" rating on shares of Denison Mine in a research report on Monday, August 11th. Scotiabank reissued an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a research note on Monday, August 18th. National Bankshares reaffirmed an "outperform" rating on shares of Denison Mine in a research report on Monday, August 18th. Finally, Desjardins upgraded shares of Denison Mine to a "moderate buy" rating in a research note on Monday, August 18th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $2.75.

Denison Mine Stock Up 1.1%

The stock has a 50-day moving average of $2.34 and a 200 day moving average of $1.85. The stock has a market cap of $2.51 billion, a PE ratio of -46.67 and a beta of 1.32.

Institutional Investors Weigh In On Denison Mine

Several hedge funds have recently added to or reduced their stakes in the business. MMCAP International Inc. SPC boosted its stake in shares of Denison Mine by 36.4% during the 1st quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock worth $31,064,000 after acquiring an additional 6,371,531 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Denison Mine in the 2nd quarter valued at about $7,998,000. BW Gestao de Investimentos Ltda. acquired a new position in Denison Mine in the 2nd quarter worth about $5,333,000. Vident Advisory LLC raised its holdings in Denison Mine by 41.9% in the 2nd quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company's stock worth $17,755,000 after purchasing an additional 2,881,618 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Denison Mine by 35.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,945,229 shares of the basic materials company's stock worth $16,367,000 after purchasing an additional 2,338,325 shares in the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.

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