Analysts Set Denison Mines Corp. (NYSEAMERICAN:DNN) Price Target at $2.93

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have received an average recommendation of “Strong Buy” from the seven analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.93.

Several research analysts have commented on the stock. Roth Mkm assumed coverage on shares of Denison Mines in a report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price target for the company. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. Finally, National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd.

Hedge Funds Weigh In On Denison Mines

Hedge funds have recently modified their holdings of the company. &PARTNERS purchased a new position in shares of Denison Mines in the first quarter valued at about $34,000. RPS Advisory Solutions LLC purchased a new position in shares of Denison Mines during the second quarter valued at about $46,000. Legacy Capital Group California Inc. increased its position in shares of Denison Mines by 131.7% during the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after buying an additional 13,248 shares during the period. Toronto Dominion Bank increased its position in shares of Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after buying an additional 6,777 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Denison Mines during the first quarter valued at about $51,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Stock Performance

Shares of DNN stock opened at $1.91 on Monday. The business’s 50 day moving average is $1.98. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 27.21 and a beta of 1.70.

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

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.