Scotiabank Decreases Earnings Estimates for Denison Mines

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) – Analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Denison Mines in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will post earnings of ($0.07) per share for the year, down from their prior forecast of ($0.06). The consensus estimate for Denison Mines’ current full-year earnings is ($0.06) per share. Scotiabank also issued estimates for Denison Mines’ FY2025 earnings at ($0.03) EPS and FY2026 earnings at ($0.03) EPS.

Other equities analysts also recently issued reports about the company. CIBC initiated coverage on Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target for the company. Roth Mkm restated a “buy” rating and set a $2.75 price objective (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Finally, Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. One research 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. Based on data from MarketBeat, Denison Mines presently has a consensus rating of “Buy” and a consensus target price of $3.00.

Denison Mines Stock Down 0.5 %

Shares of NYSEAMERICAN:DNN opened at $1.95 on Friday. The company’s fifty day moving average is $2.00. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The stock has a market capitalization of $1.74 billion, a PE ratio of -195.00 and a beta of 1.71.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DNN. Integrated Investment Consultants LLC purchased a new position in Denison Mines in the third quarter worth about $27,000. Toronto Dominion Bank lifted its stake in shares of Denison Mines by 39.4% in the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 6,777 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Denison Mines by 78.5% in 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. Legacy Capital Group California Inc. grew its position in Denison Mines by 47.5% during the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock valued at $63,000 after buying an additional 11,066 shares during the period. Finally, SevenBridge Financial Group LLC increased its holdings in Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after buying an additional 13,000 shares during the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.