Denison Mines Corp. (NYSEAMERICAN:DNN) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have been assigned a consensus recommendation of “Strong Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.00.

A number of analysts recently commented on DNN shares. StockNews.com raised Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd.

Institutional Investors Weigh In On Denison Mines

Several institutional investors and hedge funds have recently modified their holdings of DNN. Legacy Capital Group California Inc. increased its stake in 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 buying an additional 13,248 shares during the period. RPS Advisory Solutions LLC purchased a new stake in shares of Denison Mines during the second quarter worth about $46,000. Toronto Dominion Bank lifted its stake in shares of Denison Mines by 39.4% in the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 6,777 shares in the last quarter. Headlands Technologies LLC purchased a new position in Denison Mines in the first quarter valued at about $51,000. Finally, Tidal Investments LLC grew its stake in Denison Mines by 53.9% during the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,018 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Trading Down 3.1 %

DNN opened at $2.16 on Friday. Denison Mines has a 1-year low of $1.40 and a 1-year high of $2.47. The firm has a market cap of $1.93 billion, a PE ratio of 36.00 and a beta of 1.71. The stock has a 50 day moving average price of $1.99.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. As a group, equities analysts expect that Denison Mines will post -0.06 earnings per share for the current fiscal year.

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.