Denison Mines (NYSEAMERICAN:DNN) Sees Unusually-High Trading Volume – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares saw strong trading volume on Wednesday . 56,117,485 shares were traded during trading, an increase of 113% from the previous session’s volume of 26,395,514 shares.The stock last traded at $1.28 and had previously closed at $1.30.

Analyst Ratings Changes

Separately, Scotiabank reissued an “outperform” rating on shares of Denison Mines in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Performance

The business has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.90. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -128.13 and a beta of 1.75.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Denison Mines by 43.3% in the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock valued at $37,595,000 after buying an additional 6,305,332 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Denison Mines during the third quarter worth $505,000. Prescott Group Capital Management L.L.C. purchased a new position in Denison Mines in the fourth quarter worth $1,371,000. Quantbot Technologies LP boosted its holdings in shares of Denison Mines by 119.9% in the 4th quarter. Quantbot Technologies LP now owns 578,113 shares of the basic materials company’s stock worth $1,041,000 after buying an additional 315,262 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Denison Mines by 89.1% in the third quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company’s stock valued at $1,708,000 after acquiring an additional 440,921 shares during the last quarter. 36.74% of the stock is owned by institutional investors.

About Denison Mines

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.