Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up to $1.58

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $1.58, but opened at $1.65. Denison Mines shares last traded at $1.66, with a volume of 1,917,618 shares changing hands.

Analyst Upgrades and Downgrades

DNN has been the subject of a number of recent analyst reports. Roth Mkm assumed coverage on shares of Denison Mines in a report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective for the company. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Scotiabank raised Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. Finally, StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and a consensus price target of $2.60.

Denison Mines Stock Up 7.0 %

The business’s 50 day simple moving average is $1.98. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 24.14 and a beta of 1.70.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. On average, equities research analysts expect that Denison Mines Corp. will post -0.06 EPS for the current year.

Institutional Trading of Denison Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNN. Private Advisor Group LLC grew its position in shares of Denison Mines by 82.7% during the 4th quarter. Private Advisor Group LLC now owns 116,000 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 52,500 shares during the period. Avantax Advisory Services Inc. grew its holdings in Denison Mines by 47.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,600 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 6,000 shares during the period. TD Asset Management Inc increased its position in Denison Mines by 4.5% in the fourth quarter. TD Asset Management Inc now owns 2,327,927 shares of the basic materials company’s stock worth $4,096,000 after buying an additional 99,667 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Denison Mines by 3.7% in the fourth quarter. Bank of Nova Scotia now owns 1,590,966 shares of the basic materials company’s stock worth $2,786,000 after buying an additional 57,087 shares during the period. Finally, MMCAP International Inc. SPC lifted its position in shares of Denison Mines by 37.7% during the 4th 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 in the last quarter. 36.74% of the stock is 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.