Denison Mine (NYSEAMERICAN:DNN) Hits New 52-Week Low - What's Next?

Key Points

• Denison Mine shares hit a new 52-week low, trading as low as $2.10 on heavy volume, below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and one a Sell, resulting in a “Moderate Buy” consensus and an average price target of $5.38.
• Institutional investors own 36.74% of the company, while Denison continues developing uranium assets in Canada’s Athabasca Basin, including its Wheeler River project.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML reached a new 52-week low during trading on Tuesday. The stock traded as low as $2.10 and last traded at $2.1050, with a volume of 12,032,840 shares traded. The stock had previously closed at $2.13.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada started coverage on Denison Mine in a research report on Monday, July 13th. They issued an "outperform" rating on the stock. Jefferies Financial Group started coverage on Denison Mine in a research report on Thursday, September 3rd. They set a "buy" rating for the company. Finally, Zacks Research cut Denison Mine from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.38.

Denison Mine Stock Performance

The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. The company's 50-day moving average price is $2.75 and its two-hundred day moving average price is $3.32. The company has a market cap of $1.91 billion, a P/E ratio of -9.57 and a beta of 1.37.

Hedge Funds Weigh In On Denison Mine

A number of institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG purchased a new position in Denison Mine in the second quarter valued at about $5,096,000. Azarias Capital Management L.P. acquired a new position in Denison Mine in the 3rd quarter worth about $10,771,000. Bank of America Corp DE increased its position in Denison Mine by 77.4% in the 1st quarter. Bank of America Corp DE now owns 1,743,780 shares of the basic materials company's stock worth $6,156,000 after purchasing an additional 760,719 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Denison Mine by 210.5% during the 2nd quarter. Tidal Investments LLC now owns 1,446,030 shares of the basic materials company's stock worth $4,425,000 after purchasing an additional 980,277 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Denison Mine by 19.4% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company's stock worth $16,664,000 after purchasing an additional 767,863 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company's stock.

About Denison Mine

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada's Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison's activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company's principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.

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