Denison Mine Target of Unusually High Options Trading (NYSEAMERICAN:DNN)

Key Points

• Denison Mine Corp saw a significant increase in options trading, with investors purchasing 10,673 call options, marking a 51% rise compared to its usual volume.
• Research analysts generally have a favorable outlook on Denison Mine, with several firms, including Scotiabank and TD Securities, issuing ratings of "outperform" and "buy," resulting in a consensus "Buy" rating with a target price of $3.00.
• The company is actively engaged in uranium exploration and development in Canada, notably through its flagship Wheeler River project in the Athabasca Basin region.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was the target of unusually large options trading activity on Thursday. Stock investors acquired 10,673 call options on the company. This represents an increase of 51% compared to the typical daily volume of 7,057 call options.

Denison Mine Trading Down 2.9%

Shares of NYSEAMERICAN:DNN traded down $0.08 on Tuesday, hitting $2.51. The company had a trading volume of 47,703,356 shares, compared to its average volume of 76,672,086. Denison Mine has a 1-year low of $1.08 and a 1-year high of $2.61. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -41.75 and a beta of 1.38. The stock has a 50 day moving average price of $2.14 and a 200 day moving average price of $1.72.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DNN. Scotiabank restated an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. National Bankshares restated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Desjardins upgraded shares of Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. Finally, TD Securities restated a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Denison Mine currently has an average rating of "Buy" and a consensus target price of $3.00.

Hedge Funds Weigh In On Denison Mine

Several institutional investors and hedge funds have recently modified their holdings of DNN. Sowell Financial Services LLC acquired a new position in shares of Denison Mine in the first quarter valued at about $26,000. Providence Capital Advisors LLC acquired a new position in shares of Denison Mine in the first quarter valued at about $30,000. WealthShield Partners LLC grew its stake in shares of Denison Mine by 50.0% in the second quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 6,000 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Denison Mine in the second quarter valued at about $38,000. Finally, R Squared Ltd acquired a new position in shares of Denison Mine in the second quarter valued at about $39,000. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Denison Mine 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.