Denison Mines (NYSEAMERICAN:DNN) Trading Down 3.3% - What's Next?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares fell 3.3% on Wednesday . The stock traded as low as $1.64 and last traded at $1.63. 7,577,909 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 37,360,485 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DNN. Desjardins began coverage on Denison Mines in a report on Friday, April 4th. They issued a "buy" rating for the company. Scotiabank restated an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. One 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, the company has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Stock Performance

The stock has a market cap of $1.45 billion, a P/E ratio of -162.00 and a beta of 1.75. The stock has a 50-day moving average price of $1.43 and a 200-day moving average price of $1.76.

Institutional Trading of Denison Mines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oxford Asset Management LLP purchased a new position in shares of Denison Mines during the fourth quarter valued at approximately $26,000. Sowell Financial Services LLC purchased a new position in shares of Denison Mines during the first quarter valued at approximately $26,000. Providence Capital Advisors LLC purchased a new position in shares of Denison Mines during the first quarter valued at approximately $30,000. Commonwealth Equity Services LLC increased its stake in shares of 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 valued at $36,000 after buying an additional 8,500 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Denison Mines during the fourth quarter valued at approximately $38,000. Institutional investors own 36.74% of the company's stock.

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.