Traders Buy Large Volume of Call Options on Denison Mine (NYSEAMERICAN:DNN)

Key Points

• Denison Mine Corp experienced a significant increase in options trading with a 217% rise in call options on Wednesday, totaling 18,956 contracts, indicating strong trader interest.
• The company has seen recent hedge fund interest, with several firms increasing their stakes significantly, highlighting a growing confidence in Denison as a potential investment.
• Analysts maintain a positive outlook with Denison Mine having an average rating of "Buy" and a consensus target price of $3.00, indicating expectations for future growth.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was the target of unusually large options trading on Wednesday. Stock investors purchased 18,956 call options on the company. Thisisanincreaseofapproximately217% compared to the average daily volume of 5,987 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DNN. Oxford Asset Management LLP purchased a new stake in Denison Mine during the fourth quarter valued at about $26,000. WealthShield Partners LLC lifted its stake in shares of Denison Mine by 50.0% during the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company's stock valued at $33,000 after buying an additional 6,000 shares in the last quarter. Sowell Financial Services LLC bought a new position in Denison Mine in the 1st quarter worth approximately $26,000. R Squared Ltd purchased a new position in Denison Mine in the 2nd quarter valued at approximately $39,000. Finally, Advisory Alpha LLC bought a new stake in Denison Mine during the 2nd quarter valued at $40,000. 36.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DNN has been the topic of a number of analyst reports. TD Securities reiterated a "buy" rating on shares of Denison Mine in a research report on Monday, August 11th. Scotiabank reaffirmed 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 research report on Monday. Finally, Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a report on Monday. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Denison Mine has an average rating of "Buy" and a consensus target price of $3.00.

Denison Mine Price Performance

Shares of NYSEAMERICAN DNN traded up $0.03 during midday trading on Monday, reaching $2.06. The company's stock had a trading volume of 46,185,679 shares, compared to its average volume of 78,976,766. The stock has a market capitalization of $1.85 billion, a P/E ratio of -34.33 and a beta of 1.39. The firm has a 50 day moving average price of $1.94 and a 200-day moving average price of $1.68. Denison Mine has a 12-month low of $1.08 and a 12-month high of $2.47.

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.