Denison Mine (NYSEAMERICAN:DNN) Trading 6.7% Higher - Still a Buy?

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML traded up 6.7% during trading on Wednesday . The company traded as high as $1.99 and last traded at $2.00. 56,515,819 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 51,800,149 shares. The stock had previously closed at $1.87.

Wall Street Analyst Weigh In

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

Denison Mine Stock Performance

The stock's fifty day moving average is $1.68 and its two-hundred day moving average is $1.71. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -25.19 and a beta of 1.48.

Hedge Funds Weigh In On Denison Mine

Several large investors have recently made changes to their positions in DNN. Commonwealth Equity Services LLC boosted its holdings in shares of Denison Mine by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock worth $36,000 after buying an additional 8,500 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Denison Mine by 35.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock worth $61,000 after purchasing an additional 8,783 shares in the last quarter. Old West Investment Management LLC lifted its position in shares of Denison Mine by 0.7% in the fourth quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company's stock worth $2,611,000 after purchasing an additional 10,251 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Denison Mine by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company's stock worth $792,000 after purchasing an additional 11,296 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Denison Mine by 13.4% in the first quarter. HighTower Advisors LLC now owns 102,180 shares of the basic materials company's stock worth $133,000 after purchasing an additional 12,050 shares in the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.