Investors Purchase Large 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 Wednesday. Stock traders bought 16,918 call options on the stock. This is an increase of approximately 327% compared to the average daily volume of 3,964 call options.

Denison Mines Trading Up 1.8 %

Denison Mines stock opened at $2.22 on Friday. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47. The stock has a market capitalization of $1.98 billion, a P/E ratio of 37.00 and a beta of 1.71. The company’s fifty day simple moving average is $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $0.97 million during 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%. As a group, sell-side analysts anticipate that Denison Mines will post -0.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. National Bank Financial raised Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. CIBC assumed coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective on the stock. Roth Mkm initiated coverage on Denison Mines in a research note on Thursday, June 27th. They set a “buy” rating and a $2.60 price objective for the company. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Denison Mines currently has an average rating of “Buy” and a consensus target price of $2.93.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Virtu Financial LLC increased its stake in Denison Mines by 95.7% in the fourth quarter. Virtu Financial LLC now owns 197,401 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 96,553 shares during the period. Quadrature Capital Ltd purchased a new position in Denison Mines in the 4th quarter worth about $1,492,000. Confluence Investment Management LLC bought a new stake in Denison Mines during the 1st quarter valued at about $482,000. &PARTNERS purchased a new stake in Denison Mines in the 1st quarter valued at about $34,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Denison Mines during the first quarter worth approximately $366,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

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.