Denison Mines (NYSEAMERICAN:DNN) Upgraded by BMO Capital Markets to “Outperform”

BMO Capital Markets upgraded shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) from a market perform rating to an outperform rating in a report released on Wednesday morning, MarketBeat Ratings reports.

Several other equities research analysts have also recently weighed in on DNN. Scotiabank raised shares of Denison Mines to a strong-buy rating in a research report on Tuesday, July 2nd. Roth Capital raised shares of Denison Mines to a strong-buy rating in a research note on Thursday, June 27th. National Bank Financial upgraded Denison Mines to a strong-buy rating in a research note on Tuesday, September 3rd. Roth Mkm initiated coverage on Denison Mines in a research note on Thursday, June 27th. They issued a buy rating and a $2.60 price target on the stock. Finally, StockNews.com upgraded Denison Mines to a sell rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $2.60.

Denison Mines Stock Performance

Shares of NYSEAMERICAN:DNN opened at $1.88 on Wednesday. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The stock’s 50 day simple moving average is $1.98. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 26.86 and a beta of 1.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DNN. Quadrature Capital Ltd acquired a new position in shares of Denison Mines during the fourth quarter worth approximately $1,492,000. MMCAP International Inc. SPC grew its stake in shares of Denison Mines by 37.7% in the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after acquiring an additional 8,592,121 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Denison Mines in the first quarter valued at about $51,000. Van ECK Associates Corp lifted its position in shares of Denison Mines by 22.2% during the first quarter. Van ECK Associates Corp now owns 5,293,313 shares of the basic materials company’s stock valued at $10,327,000 after purchasing an additional 960,585 shares in the last quarter. Finally, Natixis boosted its holdings in Denison Mines by 270.5% during the first quarter. Natixis now owns 445,808 shares of the basic materials company’s stock worth $869,000 after purchasing an additional 325,472 shares during the last quarter. 36.74% of the stock is owned by institutional investors.

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.