Cibc World Mkts Upgrades Denison Mines (NYSEAMERICAN:DNN) to “Strong-Buy”

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by investment analysts at Cibc World Mkts to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports.

A number of other research firms have also recently weighed in on DNN. Roth Capital raised Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. Scotiabank raised Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. Roth Mkm assumed coverage on Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price on the stock. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, CIBC initiated coverage on shares of Denison Mines in a research report on Thursday. They set a “sector outperform” rating and a $3.25 price objective for the company. One analyst has rated the stock with a sell rating, three have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2.93.

Denison Mines Trading Down 0.5 %

Denison Mines stock opened at $1.85 on Thursday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 26.43 and a beta of 1.70. The stock has a 50 day moving average of $1.98. Denison Mines has a 12 month low of $1.40 and a 12 month high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released 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). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. As a group, sell-side analysts forecast that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denison Mines

Large investors have recently modified their holdings of the business. Hood River Capital Management LLC grew its holdings in Denison Mines by 9.2% in the 2nd 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 buying an additional 2,138,603 shares in the last quarter. Point72 Asset Management L.P. raised its position in Denison Mines by 0.5% in the second quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock valued at $20,170,000 after purchasing an additional 46,000 shares during the period. Van ECK Associates Corp raised its holdings in shares of 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 buying an additional 2,111,912 shares during the period. 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. Finally, Lloyd Harbor Capital Management LLC lifted its holdings in Denison Mines by 168.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after buying an additional 3,875,016 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

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.