Denison Mine (NYSEAMERICAN:DNN) Trading Down 6.9% - Should You Sell?

Key Points

• Denison Mine shares fell 6.9% to $2.6250, with about 27.1 million shares traded. The stock is below its 50-day and 200-day moving averages of $3.13 and $3.35, respectively.
• Analysts remain broadly optimistic, with six Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $5.38.
• Denison is focused on uranium exploration and development in Saskatchewan’s Athabasca Basin, with its Wheeler River project—including the Phoenix and Gryphon assets—as its principal development project.

Shares of Denison Mine Corp (NYSEAMERICAN:DNN - Get Free Report) TSE: DML dropped 6.9% on Thursday . The company traded as low as $2.62 and last traded at $2.6250. Approximately 27,140,305 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 32,707,381 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

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

Denison Mine Stock Down 6.9%

The company has a debt-to-equity ratio of 2.38, a current ratio of 9.41 and a quick ratio of 9.14. The firm has a market capitalization of $2.38 billion, a P/E ratio of -11.93 and a beta of 1.24. The firm's fifty day moving average price is $3.13 and its 200-day moving average price is $3.35.

Hedge Funds Weigh In On Denison Mine

Several hedge funds have recently made changes to their positions in the business. Summitry LLC acquired a new position in Denison Mine in the fourth quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Denison Mine in the 2nd quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Denison Mine during the second quarter worth $28,000. Prospera Financial Services Inc purchased a new stake in shares of Denison Mine during the fourth quarter valued at $34,000. Finally, Steelhead Wealth Management LLC acquired a new stake in Denison Mine during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 36.74% of the company's stock.

About Denison Mine

Denison Mines Corp. is a Canadian uranium exploration and development company focused on advancing uranium projects and acquiring interests in uranium-producing assets. Its activities are concentrated primarily in the Athabasca Basin of northern Saskatchewan, Canada, one of the world's leading uranium-producing regions.

The company's principal development asset is the Wheeler River project, which includes the Phoenix in-situ recovery uranium project and the Gryphon underground project.

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