Denison Mine (NYSEAMERICAN:DNN) Sets New 12-Month Low - Time to Sell?

Key Points

• Denison Mine shares fell to a new 52-week low of $2.20, below their previous close of $2.33 and well under the 50-day and 200-day moving averages of $3.03 and $3.23.
• Despite the decline, analysts remain broadly positive: six rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $5.38.
• Institutional investors own 36.74% of the company, while several advisory firms recently initiated small positions. Denison is focused on uranium exploration and development in Saskatchewan, particularly its Wheeler River project.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's share price hit a new 52-week low on Wednesday. The company traded as low as $2.20 and last traded at $2.2150, with a volume of 3,090,243 shares changing hands. The stock had previously closed at $2.33.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DNN. Royal Bank Of Canada started coverage on Denison Mine in a research report on Monday, July 13th. They set an "outperform" rating on the stock. Jefferies Financial Group initiated coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They issued a "buy" rating for the company. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Denison Mine currently has an average rating of "Moderate Buy" and an average target price of $5.38.

Denison Mine Price Performance

The firm has a 50-day simple moving average of $3.03 and a 200-day simple moving average of $3.23. The firm has a market cap of $1.97 billion, a P/E ratio of -9.89 and a beta of 1.37. The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DNN. Shore Point Advisors LLC purchased a new stake in Denison Mine in the third quarter valued at $26,000. Kelleher Financial Advisors purchased a new position in shares of Denison Mine during the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Denison Mine during the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC purchased a new position in shares of Denison Mine during the 3rd quarter valued at about $28,000. Finally, Apella Capital LLC acquired a new position in shares of Denison Mine in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 36.74% of the company's stock.

Denison Mine Company Profile

Denison Mines Corp. is a uranium exploration, development and production company focused primarily on the Athabasca Basin in northern Saskatchewan, Canada. The company's activities include the acquisition, evaluation and advancement of uranium mineral properties, with an emphasis on projects that could support future uranium production.

Denison's flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Phoenix is being advanced as an in-situ recovery project, while Gryphon is being evaluated as an underground mining operation.

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