Denison Mine (NYSEAMERICAN:DNN) Trading Down 4.5% - Here's What Happened

Key Points

• Denison Mine shares fell 4.5% to about $3.09 in Friday trading, with volume of 9.4 million shares—72% below the average daily volume.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating, giving the stock a “Moderate Buy” consensus and an average price target of $5.38.
• Institutional ownership stands at 36.74%, with major investors including VanEck, Vanguard, Two Sigma and L1 Capital recently increasing their stakes.

Shares of Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML dropped 4.5% during trading on Friday . The stock traded as low as $3.06 and last traded at $3.0850. 9,403,651 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 33,137,766 shares. The stock had previously closed at $3.23.

Analysts Set New Price Targets

Several research analysts have issued reports on DNN shares. Royal Bank Of Canada initiated coverage on shares of Denison Mine in a report on Monday, July 13th. They set an "outperform" rating for the company. Zacks Research lowered shares of Denison Mine from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research report on Thursday, May 14th. Finally, Jefferies Financial Group initiated coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They set a "buy" rating for the company. Six 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 stock currently has an average rating of "Moderate Buy" and an average price target of $5.38.

Denison Mine Price Performance

The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -13.89 and a beta of 1.24. 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 business has a 50 day moving average price of $3.18 and a 200-day moving average price of $3.43.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DNN. Van ECK Associates Corp grew 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 period. Vanguard Group Inc. increased its stake in Denison Mine by 80.6% during the 4th quarter. Vanguard Group Inc. now owns 23,960,755 shares of the basic materials company's stock valued at $63,544,000 after purchasing an additional 10,696,852 shares in the last quarter. Two Sigma Investments LP increased its stake in Denison Mine by 1,696.3% during the 3rd quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company's stock valued at $46,823,000 after purchasing an additional 16,078,514 shares in the last quarter. L1 Capital Pty Ltd raised its holdings in Denison Mine by 4,544.0% during the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company's stock worth $38,520,000 after buying an additional 13,705,598 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of Denison Mine by 41.9% in the second quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company's stock valued at $17,755,000 after buying an additional 2,881,618 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mine Company Profile

Denison Mines Corp. NYSEAMERICAN: DNN is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company's core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison's flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world's most prolific uranium districts.

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