Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up - Here's Why

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares gapped up prior to trading on Friday . The stock had previously closed at $1.50, but opened at $1.58. Denison Mines shares last traded at $1.67, with a volume of 28,876,528 shares.

Wall Street Analyst Weigh In

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

Denison Mines Trading Up 12.0%

The company has a market cap of $1.50 billion, a P/E ratio of -168.00 and a beta of 1.75. The business's 50 day simple moving average is $1.40 and its 200 day simple moving average is $1.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oxford Asset Management LLP bought a new stake in Denison Mines in the fourth quarter worth $26,000. Sowell Financial Services LLC bought a new stake in Denison Mines in the first quarter worth about $26,000. Providence Capital Advisors LLC purchased a new position in shares of Denison Mines during the first quarter valued at approximately $30,000. Vantage Point Financial LLC purchased a new position in shares of Denison Mines during the fourth quarter valued at approximately $34,000. Finally, Commonwealth Equity Services LLC grew 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 last quarter. 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.