Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up to $1.50

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.61. Denison Mines shares last traded at $1.67, with a volume of 3,395,973 shares trading hands.

Analyst Ratings Changes

Several brokerages recently weighed in on DNN. Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. StockNews.com raised shares of Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. Roth Mkm initiated coverage on shares of Denison Mines in a research report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price target on the stock. Finally, Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $2.60.

Denison Mines Stock Performance

The stock has a 50 day simple moving average of $1.99. The firm has a market cap of $1.53 billion, a PE ratio of 24.43 and a beta of 1.73.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $0.80 million. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. On average, equities analysts anticipate that Denison Mines Corp. will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. MMCAP International Inc. SPC raised its stake in shares of Denison Mines by 37.7% in the fourth quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock valued at $54,148,000 after acquiring an additional 8,592,121 shares during the last quarter. Hood River Capital Management LLC raised its position in Denison Mines by 9.2% in the 2nd quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after purchasing an additional 2,138,603 shares during the last quarter. Point72 Asset Management L.P. raised its position in Denison Mines by 0.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock worth $20,170,000 after purchasing an additional 46,000 shares during the last quarter. Van ECK Associates Corp raised its position in Denison Mines by 39.9% in the 2nd quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock worth $14,748,000 after purchasing an additional 2,111,912 shares during the last quarter. Finally, Vident Advisory LLC raised its position in Denison Mines by 15.0% in the 1st quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after purchasing an additional 884,599 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

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.