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

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been given an average rating of “Strong Buy” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.00.

DNN has been the subject of several analyst reports. CIBC initiated coverage on shares of Denison Mines in a report on Thursday, September 26th. They set 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. Roth Mkm reissued a “buy” rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. Finally, Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th.

Denison Mines Stock Down 0.5 %

Shares of DNN stock opened at $1.95 on Wednesday. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The company has a market cap of $1.74 billion, a P/E ratio of -195.00 and a beta of 1.71. The company’s 50-day moving average price is $2.00.

Institutional Investors Weigh In On Denison Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNN. BNP Paribas Financial Markets bought a new stake in shares of Denison Mines during the third quarter worth approximately $505,000. National Bank of Canada FI raised its stake in shares of Denison Mines by 89.1% during the third quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company’s stock worth $1,708,000 after buying an additional 440,921 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Denison Mines by 15.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock worth $7,124,000 after buying an additional 479,600 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after buying an additional 14,688 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Denison Mines by 499.0% during the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after buying an additional 3,438,790 shares during the last quarter. Institutional investors and hedge funds 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.