Denison Mines (NYSEAMERICAN:DNN) Shares Down 4.9% - Here's Why

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML traded down 4.9% on Tuesday . The company 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.

Analyst Ratings Changes

Several equities analysts have commented on DNN shares. Desjardins started coverage on shares of Denison Mines in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. One investment 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.com, Denison Mines presently has an average rating of "Buy" and a consensus target price of $3.00.

Denison Mines Stock Performance

The stock has a market cap of $1.48 billion, a PE ratio of -165.00 and a beta of 1.75. The business has a 50-day moving average of $1.48 and a 200 day moving average of $1.76.

Institutional Trading of Denison Mines

Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake 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 valued at $36,000 after purchasing an additional 8,500 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Denison Mines by 35.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 8,783 shares in the last quarter. Legacy Capital Group California Inc. lifted its stake in shares of Denison Mines by 26.2% in the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 9,002 shares in the last quarter. Old West Investment Management LLC lifted its stake in shares of Denison Mines by 0.7% in the 4th 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 purchasing an additional 10,251 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

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.