Denison Mines (NYSEAMERICAN:DNN) Stock Price Up 3.9% – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) rose 3.9% during mid-day trading on Friday . The stock traded as high as $2.19 and last traded at $2.15. Approximately 8,147,553 shares were traded during mid-day 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 Analyst Weigh In

Several research analysts have commented on the stock. Roth Mkm reissued a “buy” rating and issued a $2.75 price target (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com raised Denison Mines to a “sell” rating in a report on Wednesday, July 31st. National Bank Financial raised Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Price Performance

The stock has a market capitalization of $1.87 billion, a P/E ratio of -209.00 and a beta of 1.69. The firm’s fifty day moving average price is $1.99.

Hedge Funds Weigh In On Denison Mines

A number of large investors have recently added to or reduced their stakes in DNN. Hood River Capital Management LLC lifted its position in Denison Mines by 9.2% in the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock valued at $50,275,000 after purchasing an additional 2,138,603 shares during the last quarter. Segra Capital Management LLC increased its stake in shares of Denison Mines by 124.8% in the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after buying an additional 10,140,540 shares during the period. Van ECK Associates Corp increased its stake in shares of Denison Mines by 96.8% in the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock worth $26,671,000 after buying an additional 7,168,934 shares during the period. Point72 Asset Management L.P. raised its holdings in Denison Mines by 0.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock valued at $20,170,000 after buying an additional 46,000 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in Denison Mines by 10.2% in the 3rd quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company’s stock worth $15,298,000 after acquiring an additional 774,441 shares during the last quarter. Hedge funds and other 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.