Denison Mines (NYSEAMERICAN:DNN) Shares Down 3.4% – What’s Next?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares traded down 3.4% during mid-day trading on Monday . The stock traded as low as $2.28 and last traded at $2.30. 3,842,828 shares changed hands during trading, a decline of 76% from the average session volume of 16,200,526 shares. The stock had previously closed at $2.38.

Analysts Set New Price Targets

DNN has been the subject of a number of research reports. Scotiabank raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. StockNews.com raised shares of Denison Mines to a “sell” rating in a research 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. Roth Mkm started 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. Finally, National Bank Financial raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $2.93.

Denison Mines Trading Down 4.6 %

The stock has a market capitalization of $2.03 billion, a P/E ratio of 39.67 and a beta of 1.71. The business has a 50-day moving average of $1.99.

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

Institutional Trading of Denison Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lloyd Harbor Capital Management LLC boosted its holdings in Denison Mines by 168.5% in 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 acquiring an additional 3,875,016 shares during the last quarter. Hood River Capital Management LLC grew its stake 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 worth $50,275,000 after buying an additional 2,138,603 shares during the period. Van ECK Associates Corp increased its holdings in Denison Mines by 39.9% in the 2nd 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 in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Denison Mines during the 1st quarter valued at about $1,758,000. Finally, Vident Advisory LLC lifted its position in shares of 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 worth $13,191,000 after purchasing an additional 884,599 shares in the last quarter. 36.74% of the stock is owned by hedge funds and other 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.