Denison Mines (NYSEAMERICAN:DNN) Shares Down 5% – Should You Sell?

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) were down 5% during mid-day trading on Monday . The stock traded as low as $2.27 and last traded at $2.27. Approximately 23,353,904 shares traded hands during trading, an increase of 38% from the average daily volume of 16,888,727 shares. The stock had previously closed at $2.39.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. StockNews.com upgraded Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Roth Mkm restated a “buy” rating and issued a $2.75 price objective (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $3.00.

Denison Mines Trading Up 1.3 %

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -227.00 and a beta of 1.69. The business has a fifty day moving average price of $2.00.

Institutional Trading of Denison Mines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in shares of Denison Mines during the 1st quarter valued at about $1,758,000. Goehring & Rozencwajg Associates LLC grew its stake in Denison Mines by 15.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock worth $7,124,000 after buying an additional 479,600 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Denison Mines by 53.9% in the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock worth $78,000 after buying an additional 14,018 shares during the last quarter. Azarias Capital Management L.P. increased its holdings in shares of Denison Mines by 17.0% in the 2nd quarter. Azarias Capital Management L.P. now owns 3,406,586 shares of the basic materials company’s stock worth $6,779,000 after buying an additional 496,182 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Denison Mines by 1.9% during 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 in the last quarter. 36.74% of the stock is currently 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.