Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.80, but opened at $1.86. Denison Mines shares last traded at $1.98, with a volume of 5,427,588 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on DNN. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. CIBC began coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Denison Mines currently has a consensus rating of “Buy” and an average price target of $3.00.

Denison Mines Stock Performance

The firm’s 50-day moving average is $2.01. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -210.00 and a beta of 1.71.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Confluence Investment Management LLC increased its stake in Denison Mines by 3.8% in the fourth quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company’s stock valued at $481,000 after purchasing an additional 9,831 shares during the last quarter. Toronto Dominion Bank grew its holdings in Denison Mines by 55.5% in the 3rd quarter. Toronto Dominion Bank now owns 37,266 shares of the basic materials company’s stock valued at $68,000 after buying an additional 13,297 shares during the period. Geode Capital Management LLC increased its stake in shares of Denison Mines by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 420,723 shares of the basic materials company’s stock valued at $769,000 after acquiring an additional 34,192 shares during the last quarter. Segra Capital Management LLC lifted its holdings in shares of Denison Mines by 124.8% during the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after acquiring an additional 10,140,540 shares during the period. Finally, Impala Asset Management LLC acquired a new stake in shares of Denison Mines in the third quarter worth approximately $1,076,000. 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.