Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up – Should You Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) gapped up before the market opened on Wednesday . The stock had previously closed at $1.93, but opened at $1.99. Denison Mines shares last traded at $2.07, with a volume of 7,542,322 shares.

Analyst Ratings Changes

Several analysts have weighed in on DNN shares. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, CIBC initiated coverage on shares of Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Denison Mines currently has a consensus rating of “Buy” and an average target price of $2.93.

Denison Mines Stock Performance

The business has a fifty day moving average price of $1.98. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 34.17 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. Analysts forecast that Denison Mines Corp. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denison Mines

Several hedge funds have recently bought and sold shares of DNN. Lloyd Harbor Capital Management LLC lifted its position in Denison Mines by 168.5% during the second quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after purchasing an additional 3,875,016 shares during the last quarter. Hood River Capital Management LLC lifted its position in Denison Mines by 9.2% during the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock valued at $50,275,000 after purchasing an additional 2,138,603 shares during the last quarter. Van ECK Associates Corp lifted its position in Denison Mines by 39.9% during the second quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock valued at $14,748,000 after purchasing an additional 2,111,912 shares during the last quarter. Cetera Investment Advisers bought a new stake in Denison Mines during the first quarter valued at approximately $1,758,000. Finally, Vident Advisory LLC lifted its position in Denison Mines by 15.0% during the first quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock valued at $13,191,000 after purchasing an additional 884,599 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors.

Denison Mines Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.