Denison Mines (TSE:DML) Stock Passes Below 200-Day Moving Average – Here’s Why

Denison Mines Corp. (TSE:DML) (NYSE:DNN)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.68 and traded as low as C$2.64. Denison Mines shares last traded at C$2.66, with a volume of 2,150,248 shares changing hands.

Analyst Upgrades and Downgrades

DML has been the topic of a number of analyst reports. CIBC set a C$3.25 price objective on shares of Denison Mines and gave the company an “outperform” rating in a research report on Thursday, September 26th. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. National Bankshares boosted their target price on Denison Mines from C$3.50 to C$4.15 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Scotiabank raised their price target on Denison Mines from C$4.00 to C$4.50 in a research note on Monday, November 25th. Finally, National Bank Financial raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$3.76.

Denison Mines Trading Down 2.6 %

The company has a current ratio of 6.94, a quick ratio of 3.12 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of C$3.02 and a two-hundred day simple moving average of C$2.68. The firm has a market capitalization of C$2.37 billion, a P/E ratio of 44.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.89.

Insider Buying and Selling

In other Denison Mines news, Senior Officer Andrew Alan Yackulic sold 45,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$2.84, for a total transaction of C$129,124.45. 0.31% of the stock is owned by insiders.

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.