Stock Traders Buy High Volume of Call Options on Denison Mines (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 24,362 call options on the company. This represents an increase of approximately 301% compared to the typical volume of 6,074 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DNN shares. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target on the stock. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $3.00.

Institutional Trading of Denison Mines

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC acquired a new stake in shares of Denison Mines in the third quarter worth about $27,000. Toronto Dominion Bank lifted its holdings 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 worth $48,000 after purchasing an additional 6,777 shares during the last quarter. Continuum Advisory LLC boosted its position in Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 14,688 shares during the period. Legacy Capital Group California Inc. boosted its position in Denison Mines by 47.5% during the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 11,066 shares during the period. Finally, SevenBridge Financial Group LLC grew its holdings in Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 13,000 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Denison Mines Trading Down 2.2 %

Denison Mines stock opened at $1.80 on Thursday. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -180.00 and a beta of 1.71. The company has a 50 day moving average of $2.02.

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.