Denison Mine Sees Unusually Large Options Volume (NYSEAMERICAN:DNN)

Key Points

• Unusual options activity: Traders purchased 13,180 Denison Mine call options, 183% above the average volume of 4,665 contracts.
• Institutional buying increased: VanEck raised its stake by 22.4% and HSBC increased its position by 60.6%; institutional investors now own 36.74% of the stock.
• Analysts remain broadly positive: Five analysts rate DNN as a Buy and one as a Hold, producing a “Moderate Buy” consensus and an average price target of $5.38. The stock recently traded at $3.52.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was the target of some unusual options trading on Monday. Stock traders purchased 13,180 call options on the company. This represents an increase of 183% compared to the average volume of 4,665 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaGrep UK Ltd acquired a new stake in shares of Denison Mine in the 2nd quarter valued at $91,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Denison Mine during the 2nd quarter worth about $443,000. Northwestern Mutual Wealth Management Co. bought a new position in Denison Mine during the 2nd quarter valued at about $28,000. Van ECK Associates Corp lifted its holdings in Denison Mine by 22.4% during the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company's stock valued at $267,557,000 after purchasing an additional 16,013,484 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Denison Mine by 60.6% in the second quarter. Hsbc Holdings PLC now owns 56,445 shares of the basic materials company's stock valued at $173,000 after buying an additional 21,300 shares in the last quarter. 36.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DNN shares. Zacks Research cut Denison Mine from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Scotiabank reissued an "outperform" rating on shares of Denison Mine in a report on Thursday, May 14th. Finally, Royal Bank Of Canada assumed coverage on shares of Denison Mine in a research note on Monday, July 13th. They issued an "outperform" rating for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $5.38.

Denison Mine Price Performance

NYSEAMERICAN DNN traded up $0.03 during trading on Monday, reaching $3.52. 15,864,119 shares of the company traded hands, compared to its average volume of 33,755,102. Denison Mine has a 1-year low of $2.04 and a 1-year high of $4.43. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -16.07 and a beta of 1.23. The stock's 50 day moving average price is $3.12 and its two-hundred day moving average price is $3.47. The company has a debt-to-equity ratio of 2.38, a quick ratio of 9.14 and a current ratio of 9.41.

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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