Denison Mines (NYSEAMERICAN:DNN) Upgraded by Scotiabank to “Strong-Buy”

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research note on Sunday, May 19th. Finally, Roth Mkm assumed coverage on shares of Denison Mines in a research note on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $2.60.

Denison Mines Price Performance

Shares of DNN opened at $2.12 on Tuesday. Denison Mines has a one year low of $1.15 and a one year high of $2.47. The stock has a market capitalization of $1.89 billion, a PE ratio of 30.29 and a beta of 1.73.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its earnings results on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $0.62 million during the quarter. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. On average, research analysts forecast that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Denison Mines

Several hedge funds and other institutional investors have recently bought and sold shares of DNN. MMCAP International Inc. SPC raised its stake in Denison Mines by 37.7% in the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after purchasing an additional 8,592,121 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Denison Mines by 7.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,008,885 shares of the basic materials company’s stock valued at $86,228,000 after buying an additional 3,342,434 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Denison Mines in the 3rd quarter valued at approximately $2,331,000. Fielder Capital Group LLC acquired a new position in shares of Denison Mines in the 4th quarter valued at approximately $2,479,000. Finally, Crestline Management LP acquired a new position in shares of Denison Mines in the 4th quarter valued at approximately $1,988,000. Institutional investors and hedge funds 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.