Denison Mines Corp. (NYSEAMERICAN:DNN) Receives Average Rating of “Strong Buy” from Analysts

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have been given a consensus rating of “Strong Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.00.

Several brokerages recently issued reports on DNN. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a 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 note on Wednesday, September 25th. Roth Mkm reissued a “buy” rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, CIBC initiated coverage on shares of Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective for the company.

Denison Mines Price Performance

DNN stock opened at $1.97 on Wednesday. The company’s 50-day moving average is $2.00. The firm has a market cap of $1.76 billion, a P/E ratio of -197.00 and a beta of 1.71. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Segra Capital Management LLC increased its holdings in Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after acquiring an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Denison Mines by 96.8% in the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock worth $26,671,000 after purchasing an additional 7,168,934 shares in the last quarter. Lloyd Harbor Capital Management LLC raised its position in shares of Denison Mines by 168.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after purchasing an additional 3,875,016 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Denison Mines by 499.0% in the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock valued at $7,514,000 after purchasing an additional 3,438,790 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in shares of Denison Mines by 9.2% during the 2nd quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock valued at $50,275,000 after buying an additional 2,138,603 shares in the last quarter. 36.74% of the stock is owned by institutional investors.

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.