Denison Mines (NYSEAMERICAN:DNN) Trading Down 4.4% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price traded down 4.4% during trading on Thursday . The company traded as low as $1.85 and last traded at $1.87. 15,381,955 shares were traded during mid-day trading, a decline of 45% from the average session volume of 28,199,047 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

DNN has been the topic of a number of recent research reports. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price on the stock. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Denison Mines has an average rating of “Buy” and a consensus target price of $3.00.

Denison Mines Stock Up 1.1 %

The company has a market cap of $1.68 billion, a price-to-earnings ratio of -188.00 and a beta of 1.77. The company’s 50 day moving average is $2.00.

Institutional Investors Weigh In On Denison Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank grew its position 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 acquiring an additional 6,777 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Denison Mines by 3.8% in the 4th quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company’s stock valued at $481,000 after buying an additional 9,831 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of Denison Mines by 47.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock valued at $63,000 after buying an additional 11,066 shares during the last quarter. SevenBridge Financial Group LLC grew its position in shares of Denison Mines by 54.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after buying an additional 13,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Denison Mines by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock valued at $1,378,000 after buying an additional 13,144 shares during the last quarter. 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.