Denison Mines (NYSEAMERICAN:DNN) Shares Up 3.9% – Still a Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price rose 3.9% during mid-day trading on Friday . The company traded as high as $2.19 and last traded at $2.15. Approximately 8,147,553 shares were traded during trading, a decline of 51% from the average daily volume of 16,474,199 shares. The stock had previously closed at $2.07.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DNN. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. CIBC started coverage on Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target for the company. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $2.75 price target (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 given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $3.00.

Denison Mines Stock Up 1.0 %

The stock has a market capitalization of $1.87 billion, a P/E ratio of -209.00 and a beta of 1.69. The business has a 50 day simple moving average of $1.99.

Hedge Funds Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently made changes to their positions in DNN. Integrated Investment Consultants LLC purchased a new stake in shares of Denison Mines in the 3rd quarter worth approximately $27,000. RPS Advisory Solutions LLC bought a new stake in Denison Mines in the second quarter worth $46,000. Legacy Capital Group California Inc. boosted its holdings in Denison Mines by 131.7% in the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 13,248 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Denison Mines by 39.4% in the second 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. Finally, Continuum Advisory LLC increased its holdings in shares of Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 14,688 shares in 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.