Denison Mine (NYSEAMERICAN:DNN) Shares Climb 5.9% - What's Next?

Key Points

• Denison Mine shares rose 5.9% to $2.785 during Tuesday trading, though volume was about 65% below the stock’s average daily volume.
• Analyst sentiment remains positive: six analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a $5.38 price target.
• Institutional ownership stands at 36.74%, with major investors including VanECK Associates, Renaissance Technologies, and TD Asset Management increasing their positions. Denison’s key development asset is the Wheeler River uranium project in Saskatchewan.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's share price shot up 5.9% on Tuesday. The stock traded as high as $2.81 and last traded at $2.7850. 11,352,879 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 32,396,205 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

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

Denison Mine Price Performance

The company has a debt-to-equity ratio of 2.38, a quick ratio of 9.14 and a current ratio of 9.41. The company has a market capitalization of $2.56 billion, a PE ratio of -12.80 and a beta of 1.37. The stock has a 50 day moving average price of $3.07 and a two-hundred day moving average price of $3.28.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DNN. Van ECK Associates Corp lifted its position 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 acquiring an additional 16,013,484 shares during the last quarter. Renaissance Technologies LLC increased its stake in 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 acquiring an additional 6,934,400 shares during the period. TD Asset Management Inc lifted its position in shares of Denison Mine by 17.8% during the 4th quarter. TD Asset Management Inc now owns 8,608,043 shares of the basic materials company's stock worth $22,858,000 after buying an additional 1,297,838 shares during the period. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Denison Mine by 19.4% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company's stock valued at $16,664,000 after purchasing an additional 767,863 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Denison Mine during the second quarter worth about $16,541,000. 36.74% of the stock is owned by institutional investors.

About Denison Mine

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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