Denison Mine (NYSEAMERICAN:DNN) Shares Climb 9% - Here's What Happened

Key Points

• Denison Mine shares rose 9% to about $2.36 in mid-day trading, with roughly 17.7 million shares changing hands—below the stock’s average daily volume.
• Analyst sentiment remains favorable: six analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $5.38.
• Institutional ownership stands at 36.74%, with major investors including VanEck and Renaissance Technologies increasing their positions. Denison’s key assets include the Wheeler River uranium project and its Phoenix and Gryphon deposits in Saskatchewan.

Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML traded up 9% during mid-day trading on Thursday. The stock traded as high as $2.36 and last traded at $2.3550. Approximately 17,680,847 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 32,430,092 shares. The stock had previously closed at $2.16.

Analyst Ratings Changes

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

Denison Mine Trading Up 7.2%

The firm has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $3.22. 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 firm has a market cap of $2.10 billion, a P/E ratio of -10.52 and a beta of 1.37.

Institutional Trading of Denison Mine

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Denison Mine by 22.4% in the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company's stock valued at $267,557,000 after acquiring an additional 16,013,484 shares during the last quarter. Renaissance Technologies LLC raised its position in Denison Mine by 275.0% during 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 purchasing an additional 6,934,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Denison Mine during the second quarter worth about $16,541,000. Goehring & Rozencwajg Associates LLC lifted its stake in Denison Mine by 19.4% during the first 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 during the last quarter. Finally, Bank of America Corp DE bought a new stake in Denison Mine during the second quarter worth about $13,237,000. 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 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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