Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up - What's Next?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.52, but opened at $1.61. Denison Mines shares last traded at $1.62, with a volume of 37,613,334 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DNN shares. Scotiabank reaffirmed an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins initiated coverage on shares of Denison Mines in a report on Friday, April 4th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $3.00.

Denison Mines Trading Down 0.3%

The firm has a market cap of $1.45 billion, a P/E ratio of -161.50 and a beta of 1.75. The business has a 50-day moving average of $1.43 and a two-hundred day moving average of $1.76.

Hedge Funds Weigh In On Denison Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNN. Commonwealth Equity Services LLC lifted its position in shares of Denison Mines by 74.1% in the 4th 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 period. Envestnet Asset Management Inc. lifted its holdings in Denison Mines by 35.3% in the fourth 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. boosted its position in Denison Mines by 26.2% during the fourth quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 9,002 shares during the last quarter. Old West Investment Management LLC boosted its position in Denison Mines by 0.7% during the fourth 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 acquiring an additional 10,251 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Denison Mines by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company's stock worth $792,000 after acquiring an additional 11,296 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.

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.