Denison Mines (NYSEAMERICAN:DNN) Shares Up 5.5% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares traded up 5.5% on Thursday . The stock traded as high as $2.30 and last traded at $2.30. 1,300,003 shares changed hands during trading, a decline of 92% from the average session volume of 15,966,003 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DNN. StockNews.com upgraded Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Roth Capital raised Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. Roth Mkm began coverage on shares of Denison Mines in a report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $2.93.

Denison Mines Trading Up 3.2 %

The business’s 50-day simple moving average is $1.98. The firm has a market cap of $2.01 billion, a P/E ratio of 38.17 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. On average, equities research analysts predict that Denison Mines Corp. will post -0.06 EPS for the current year.

Institutional Trading of Denison Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNN. &PARTNERS acquired a new position in shares of Denison Mines in the first quarter worth $34,000. Legacy Capital Group California Inc. raised its stake in shares of Denison Mines by 131.7% in the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 13,248 shares in the last quarter. RPS Advisory Solutions LLC purchased a new position in Denison Mines in the second quarter valued at $46,000. Toronto Dominion Bank grew its stake in Denison Mines by 39.4% during the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Denison Mines during the 1st quarter worth about $51,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

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.