Denison Mines (NYSEAMERICAN:DNN) Rating Increased to Strong-Buy at Scotiabank

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by equities researchers at Scotiabank to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

A number of other analysts also recently issued reports on DNN. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a report on Sunday, May 19th. Roth Mkm assumed coverage on Denison Mines in a report on Thursday, June 27th. They issued a “buy” rating and a $2.60 target price on the stock. Finally, Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Denison Mines currently has an average rating of “Buy” and a consensus price target of $2.60.

Denison Mines Stock Performance

DNN stock opened at $2.12 on Tuesday. The stock has a market cap of $1.89 billion, a PE ratio of 30.29 and a beta of 1.73. Denison Mines has a twelve month low of $1.15 and a twelve month high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $0.62 million for the quarter. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. As a group, equities analysts forecast that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its position in Denison Mines by 47.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,600 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 6,000 shares during the last quarter. Arlington Capital Management Inc. grew its holdings in Denison Mines by 1.7% during the 1st quarter. Arlington Capital Management Inc. now owns 432,797 shares of the basic materials company’s stock valued at $844,000 after purchasing an additional 7,027 shares during the last quarter. Tidal Investments LLC grew its holdings in Denison Mines by 53.9% during the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,018 shares during the last quarter. Glenorchy Capital Ltd bought a new stake in Denison Mines in the fourth quarter worth about $25,000. Finally, HTLF Bank boosted its position in shares of Denison Mines by 3.0% during the first quarter. HTLF Bank now owns 522,000 shares of the basic materials company’s stock valued at $1,018,000 after buying an additional 15,000 shares during the period. 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.