Denison Mines (NYSEAMERICAN:DNN) Shares Down 4.4% – Here’s What Happened

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

Analysts Set New Price Targets

DNN has been the subject of a number of analyst reports. CIBC started coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. Roth Mkm restated 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. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. One 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 stock. According to data from MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -186.50 and a beta of 1.77. The stock has a fifty day moving average price of $2.00.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Investment Consultants LLC purchased a new stake in shares of Denison Mines in the 3rd quarter valued at approximately $27,000. Toronto Dominion Bank lifted its holdings 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 valued at $48,000 after purchasing an additional 6,777 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Denison Mines by 78.5% in the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 14,688 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Denison Mines by 47.5% in the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock worth $63,000 after buying an additional 11,066 shares during the period. Finally, SevenBridge Financial Group LLC grew its holdings in shares of Denison Mines by 54.2% during the third 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 in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

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.