Denison Mines (NYSEAMERICAN:DNN) Sees Strong Trading Volume - Should You Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML saw unusually-strong trading volume on Monday . Approximately 34,820,186 shares changed hands during trading, a decline of 18% from the previous session's volume of 42,706,029 shares.The stock last traded at $1.88 and had previously closed at $1.65.

Analyst Upgrades and Downgrades

DNN has been the topic of a number of research reports. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins initiated coverage on Denison Mines in a 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 assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $3.00.

Denison Mines Stock Down 1.6%

The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -183.00 and a beta of 1.75. The stock's 50-day simple moving average is $1.49 and its two-hundred day simple moving average is $1.76.

Institutional Investors Weigh In On Denison Mines

A number of large investors have recently modified their holdings of DNN. Commonwealth Equity Services LLC increased its position in Denison Mines by 74.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock worth $36,000 after purchasing an additional 8,500 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Denison Mines by 35.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after buying an additional 8,783 shares during the period. Legacy Capital Group California Inc. increased its holdings in shares of Denison Mines by 26.2% during the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock worth $78,000 after buying an additional 9,002 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Denison Mines by 0.7% during the 4th 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 buying an additional 10,251 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 11,296 shares during the last quarter. Hedge funds and other 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.