Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up to $1.50

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.61. Denison Mines shares last traded at $1.67, with a volume of 3,395,973 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com upgraded Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. Scotiabank upgraded Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Roth Mkm assumed coverage on Denison Mines in a research report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $2.60.

Denison Mines Stock Performance

The stock has a market cap of $1.53 billion, a PE ratio of 24.43 and a beta of 1.73. The stock has a 50-day moving average of $1.99.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a return on equity of 12.96% and a net margin of 888.36%. Equities analysts forecast that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DNN. Avantax Advisory Services Inc. boosted its holdings in Denison Mines by 47.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,600 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 6,000 shares during the last quarter. Fielder Capital Group LLC acquired a new stake in Denison Mines during the 4th quarter worth approximately $2,479,000. Quadrature Capital Ltd purchased a new position in Denison Mines in the fourth quarter valued at approximately $1,492,000. MMCAP International Inc. SPC raised its holdings in Denison Mines by 37.7% in the fourth quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock valued at $54,148,000 after buying an additional 8,592,121 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Denison Mines during the first quarter valued at approximately $51,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

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.