Denison Mines (NYSEAMERICAN:DNN) Upgraded by Scotiabank to Strong-Buy

Scotiabank upgraded shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) to a strong-buy rating in a report issued on Tuesday, Zacks.com reports.

DNN has been the topic of a number of other research reports. Roth Capital raised shares of Denison Mines to a strong-buy rating in a research note on Thursday, June 27th. StockNews.com raised shares of Denison Mines to a sell rating in a research note on Sunday, May 19th. Finally, Roth Mkm started coverage on shares of Denison Mines in a research note on Thursday, June 27th. They set a buy rating and a $2.60 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Denison Mines presently has a consensus rating of Buy and an average price target of $2.60.

Denison Mines Price Performance

NYSEAMERICAN:DNN opened at $2.12 on Tuesday. The company has a market cap of $1.89 billion, a PE ratio of 30.29 and a beta of 1.73. Denison Mines has a 1-year low of $1.15 and a 1-year high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its 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 firm had revenue of $0.62 million during the quarter. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. Analysts expect that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Denison Mines

Several institutional investors and hedge funds have recently bought and sold shares of DNN. Avantax Advisory Services Inc. increased its stake 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 worth $33,000 after purchasing an additional 6,000 shares during the period. HTLF Bank purchased a new stake in Denison Mines during the fourth quarter worth about $897,000. Fielder Capital Group LLC purchased a new stake in Denison Mines during the fourth quarter worth about $2,479,000. Quadrature Capital Ltd purchased a new stake in Denison Mines during the fourth quarter worth about $1,492,000. Finally, MMCAP International Inc. SPC increased its stake in Denison Mines by 37.7% during the fourth quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after purchasing an additional 8,592,121 shares during the period. 36.74% of the stock is currently 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.