CIBC Initiates Coverage on Denison Mines (NYSEAMERICAN:DNN)

Equities research analysts at CIBC started coverage on shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) in a research note issued on Thursday, Briefing.com reports. The brokerage set a “sector outperform” rating on the basic materials company’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com upgraded Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. Roth Mkm initiated coverage on Denison Mines in a report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective on the stock. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Roth Capital upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $2.60.

Denison Mines Trading Up 2.3 %

Shares of NYSEAMERICAN DNN traded up $0.04 during midday trading on Thursday, reaching $1.92. 1,467,029 shares of the stock were exchanged, compared to its average volume of 15,750,783. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 27.29 and a beta of 1.70. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The firm has a 50-day moving average price of $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. On average, analysts forecast that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Denison Mines

Hedge funds and other institutional investors have recently modified their holdings of the business. &PARTNERS acquired a new stake in shares of Denison Mines during the 1st quarter worth about $34,000. RPS Advisory Solutions LLC acquired a new stake in shares of Denison Mines during the 2nd quarter worth about $46,000. Legacy Capital Group California Inc. increased its position in shares of Denison Mines by 131.7% during the 2nd quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 13,248 shares during the last quarter. Toronto Dominion Bank grew its position in Denison Mines by 39.4% in the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Denison Mines in the 1st quarter valued at about $51,000. 36.74% of the stock is owned by institutional investors and hedge funds.

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.