Denison Mines (NYSEAMERICAN:DNN) Trading Down 4.9% - Here's What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's stock price traded down 4.9% during trading on Tuesday . The stock traded as low as $1.65 and last traded at $1.64. 17,600,479 shares were traded during trading, a decline of 56% from the average session volume of 39,823,297 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

Several brokerages recently commented on DNN. Desjardins initiated coverage on Denison Mines in a report on Friday, April 4th. They issued a "buy" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a research report on Tuesday, March 25th. One 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 company. According to data from MarketBeat, Denison Mines has a consensus rating of "Buy" and a consensus target price of $3.00.

Denison Mines Trading Up 2.8%

The business's 50 day moving average is $1.45 and its 200 day moving average is $1.77. The stock has a market capitalization of $1.46 billion, a PE ratio of -162.50 and a beta of 1.75.

Institutional Investors Weigh In On Denison Mines

Several large investors have recently added to or reduced their stakes in DNN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Denison Mines by 62.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company's stock worth $1,955,000 after purchasing an additional 578,365 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Denison Mines by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company's stock worth $2,194,000 after purchasing an additional 45,125 shares during the period. Millennium Management LLC lifted its position in shares of Denison Mines by 11.5% in the 1st quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company's stock worth $7,423,000 after purchasing an additional 587,352 shares during the period. Royal Bank of Canada lifted its position in shares of Denison Mines by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company's stock worth $5,613,000 after purchasing an additional 550,064 shares during the period. Finally, Caption Management LLC purchased a new stake in shares of Denison Mines in the 1st quarter worth approximately $98,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.