Denison Mines (NYSEAMERICAN:DNN) Sees Strong Trading Volume - Here's Why

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML saw unusually-high trading volume on Tuesday . Approximately 37,793,618 shares traded hands during trading, an increase of 13% from the previous session's volume of 33,508,112 shares.The stock last traded at $1.72 and had previously closed at $1.68.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins assumed coverage on Denison Mines in a report on Friday, April 4th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Denison Mines has an average rating of "Buy" and a consensus target price of $3.00.

Denison Mines Stock Down 2.2%

The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -156.50 and a beta of 1.75. The stock's 50 day moving average is $1.41 and its 200 day moving average is $1.76.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in Denison Mines during the 4th quarter worth $35,837,000. MMCAP International Inc. SPC boosted its position in shares of Denison Mines by 36.4% in the 1st quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock worth $31,064,000 after purchasing an additional 6,371,531 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Denison Mines by 43.3% during the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after purchasing an additional 6,305,332 shares during the period. Millennium Management LLC grew its stake in shares of Denison Mines by 393.3% during the fourth quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock worth $9,221,000 after purchasing an additional 4,084,401 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Denison Mines by 116.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock valued at $12,932,000 after purchasing an additional 3,838,504 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors.

About Denison Mines

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.