Denison Mine (NYSEAMERICAN:DNN) Reaches New 52-Week Low - Should You Sell?

Key Points

• Denison Mine fell to a new 52-week low of $2.10, closing near $2.135, below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and a $5.38 average price target.
• Institutional investors and hedge funds own 36.74% of the company, while Denison focuses on uranium exploration and development 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 on Monday. The company traded as low as $2.10 and last traded at $2.1350, with a volume of 2,631,320 shares changing hands. The stock had previously closed at $2.17.

Analysts Set New Price Targets

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

Denison Mine Price Performance

The stock has a fifty day moving average of $2.87 and a two-hundred day moving average of $3.16. 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 stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -9.93 and a beta of 1.37.

Hedge Funds Weigh In On Denison Mine

Several institutional investors and hedge funds have recently modified their holdings of DNN. Van ECK Associates Corp raised its holdings in Denison Mine by 22.4% during the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company's stock worth $267,557,000 after buying an additional 16,013,484 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Denison Mine by 275.0% in the first quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company's stock valued at $33,379,000 after buying an additional 6,934,400 shares during the period. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Denison Mine by 19.4% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company's stock valued at $16,664,000 after buying an additional 767,863 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Denison Mine in the second quarter valued at approximately $16,541,000. Finally, Bank of America Corp DE bought a new stake in shares of Denison Mine during the second quarter worth $13,237,000. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Denison Mine Company Profile

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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