Denison Mine Target of Unusually Large Options Trading (NYSEAMERICAN:DNN)

Key Points

• Denison Mine Corp experienced a significant surge in options trading, with 35,928 call options purchased, representing a 245% increase over the average daily volume.
• The company's stock reached $3.05 during midday trading on Monday, with a market capitalization of $2.73 billion and a PE ratio of -50.75.
• Research analysts have shown positive sentiment with multiple firms issuing "buy" and "outperform" ratings, contributing to an average target price of $2.75 for the stock.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was the recipient of some unusual options trading activity on Monday. Stock traders bought 35,928 call options on the stock. This is an increase of approximately 245% compared to the average daily volume of 10,405 call options.

Denison Mine Price Performance

Shares of NYSEAMERICAN DNN traded up $0.17 during midday trading on Monday, reaching $3.05. 36,928,110 shares of the stock traded hands, compared to its average volume of 79,774,602. The stock has a market capitalization of $2.73 billion, a PE ratio of -50.75 and a beta of 1.32. Denison Mine has a one year low of $1.08 and a one year high of $3.14. The company's 50 day moving average is $2.42 and its 200 day moving average is $1.90.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Raymond James Financial reissued an "outperform" rating on shares of Denison Mine in a report on Friday. Desjardins raised shares of Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. National Bankshares reissued an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research note on Thursday, August 7th. Finally, TD Securities restated a "buy" rating on shares of Denison Mine in a research note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $2.75.

Institutional Trading of Denison Mine

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sowell Financial Services LLC purchased a new stake in Denison Mine in the first quarter worth $26,000. Cambridge Investment Research Advisors Inc. increased its stake in Denison Mine by 27.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 401,491 shares of the basic materials company's stock worth $522,000 after purchasing an additional 86,704 shares during the period. DAVENPORT & Co LLC purchased a new stake in Denison Mine in the first quarter worth $195,000. Acuitas Investments LLC purchased a new stake in Denison Mine in the first quarter worth $437,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Denison Mine in the first quarter worth $93,000. Hedge funds and other 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.

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