Denison Mines (NYSEAMERICAN:DNN) Sees Unusually-High Trading Volume - Still a Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares saw unusually-high trading volume on Monday . Approximately 123,972,038 shares changed hands during trading, an increase of 240% from the previous session's volume of 36,464,042 shares.The stock last traded at $1.54 and had previously closed at $1.59.

Analysts Set New Price Targets

DNN has been the subject of a number of analyst reports. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. Desjardins initiated coverage on shares of Denison Mines in a report on Friday, April 4th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Stock Down 2.4%

The business's 50-day moving average is $1.42 and its two-hundred day moving average is $1.76. The company has a market capitalization of $1.48 billion, a P/E ratio of -165.00 and a beta of 1.75.

Institutional Trading of Denison Mines

Several hedge funds have recently added to or reduced their stakes in DNN. Commonwealth Equity Services LLC raised its position in shares of Denison Mines by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 8,500 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Denison Mines by 35.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 8,783 shares during the period. Legacy Capital Group California Inc. raised its position in shares of Denison Mines by 26.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 9,002 shares during the period. Old West Investment Management LLC raised its position in shares of Denison Mines 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 valued at $2,611,000 after purchasing an additional 10,251 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Denison Mines by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company's stock valued at $792,000 after purchasing an additional 11,296 shares during the period. Institutional investors own 36.74% of the company's stock.

Denison Mines 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.