Denison Mine (NYSEAMERICAN:DNN) Sees Strong Trading Volume - What's Next?

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML saw unusually-strong trading volume on Monday . Approximately 34,820,186 shares traded hands during mid-day 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

Several research analysts have issued reports on DNN shares. Scotiabank reaffirmed an "outperform" rating on shares of Denison Mine in a report on Tuesday, March 25th. Desjardins started coverage on shares of Denison Mine in a research note on Friday, April 4th. They issued a "buy" rating for the company. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $3.00.

Denison Mine Price Performance

The business's 50 day moving average price is $1.53 and its 200 day moving average price is $1.76. The stock has a market capitalization of $1.65 billion, a P/E ratio of -23.00 and a beta of 1.46.

Institutional Trading of Denison Mine

Large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. bought a new position in shares of Denison Mine in the fourth quarter worth approximately $35,837,000. MMCAP International Inc. SPC raised its position in shares of Denison Mine by 36.4% during the 1st quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock valued at $31,064,000 after buying an additional 6,371,531 shares in the last quarter. Millennium Management LLC raised its position in shares of Denison Mine by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock valued at $9,221,000 after buying an additional 4,084,401 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Denison Mine by 116.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock worth $12,932,000 after purchasing an additional 3,838,504 shares during the period. Finally, NewGen Asset Management Ltd purchased a new stake in Denison Mine in the 4th quarter worth about $5,441,000. 36.74% of the stock is currently owned by institutional investors.

About Denison Mine

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.