Denison Mines Corp. (NYSEAMERICAN:DNN) Receives $3.00 Average PT from Analysts

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have been assigned an average recommendation of “Strong Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.00.

A number of brokerages recently issued reports on DNN. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target for the company. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. StockNews.com raised Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. Finally, National Bank Financial raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd.

Denison Mines Price Performance

DNN opened at $2.39 on Tuesday. The company has a market cap of $2.13 billion, a P/E ratio of -238.00 and a beta of 1.69. The firm’s 50-day moving average is $1.99. Denison Mines has a 52 week low of $1.40 and a 52 week high of $2.47.

Hedge Funds Weigh In On Denison Mines

Several large investors have recently modified their holdings of the business. Integrated Investment Consultants LLC purchased a new position in Denison Mines in the third quarter valued at $27,000. RPS Advisory Solutions LLC bought a new stake in Denison Mines during the 2nd quarter worth about $46,000. Legacy Capital Group California Inc. increased its position in shares of Denison Mines by 131.7% during the 2nd quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 13,248 shares during the last quarter. Toronto Dominion Bank lifted its position 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 buying an additional 6,777 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in Denison Mines by 78.5% in the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after buying an additional 14,688 shares during the last quarter. 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.