Denison Mines (NYSEAMERICAN:DNN) Trading Up 5.9% - What's Next?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares were up 5.9% during mid-day trading on Wednesday . The company traded as high as $1.55 and last traded at $1.54. Approximately 6,464,090 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 32,305,797 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Desjardins assumed coverage on Denison Mines in a report on Friday, April 4th. They set a "buy" rating on the stock. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a report 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 MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $3.00.

Denison Mines Stock Up 6.6%

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -154.50 and a beta of 1.75. The company's fifty day moving average is $1.39 and its 200 day moving average is $1.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in 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 worth $36,000 after purchasing an additional 8,500 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Denison Mines by 35.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock worth $61,000 after buying an additional 8,783 shares during the period. Legacy Capital Group California Inc. grew its stake in 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 buying an additional 9,002 shares during the last quarter. Old West Investment Management LLC raised its holdings in 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 acquiring an additional 10,251 shares during the period. Finally, Geode Capital Management LLC lifted its position in Denison Mines by 2.7% during the fourth 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 last quarter. 36.74% of the stock is currently 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.

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